Are the financial institutions required to issue a 1099R when there is a rollover of an IRA to another institution under G code. Thanks Guys
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Yes, anytime there is a dispersal from a qualified account there should be a 1099R issued."A man that holds a cat by the tail learns something he can learn no other way." - Mark Twain -
Except direct transfers are not subject to 1099r reporting. What the difference is between this situation and one from a qualified plan to another under which code g is used for a 1099R , I have NO idea. Tried to read the instructions for 1099R, but just threw up my hands and asked myself "Why should that matter to me?"
So, as Lou Costello said one time: "I don't KNOW, and I don't CARE."
(from Who's on first?)ChEAr$,
Harlan Lunsford, EA n LAComment
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Ignorant and Apathetic
...both in the same breath.
"I don't know and I don't care."Comment
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