To report or not to report

[TAXNJ]

TWO QUESTIONS for a 401k distribution that was rolled over.
1) 2013 tax year does individual need to report as “previously taxed contributions for rollover from a qualified retirement plan to a Roth IRA or an in-plan Roth rollover to a designated Roth”?
2) also, can the individual take IRA traditional deduction for contributing say 3000 not related to the 401k distribution amount?
SCENARIO
2013 TAX YEAR –(same brokerage firm handles 401k and IRAs) Individual rolls over 401k a portion (NON taxed) to Traditional IRA and previously (taxed portion) to a Roth IRA as a separate
Say for simplicity the amounts were:
Total Distribution from 401k as follows:
- Total Distribution 250,000
- (NON taxed) to Traditional IRA 200,000
- previously (taxed portion) to a Roth IRA 50,000
Form 1099-R total distribution (box is checked)
box 1 250,000
box 5 50,000
box 7 G
nothing in any other boxes

also, wants to take IRA traditional deduction for contributing say 3000 not related to the 401k distribution amount?

THANKS IN ADVANCE

[Koss]

Rollover

The distribution should be reported, but there will be no tax due. I believe that the amount of $200,000 will appear on line 15a of Form 1040, but the taxable amount on line 15b will be zero. Form 1099-R should be transmitted as part of the electronic return, even though there is no withholding. Likewise, if the return is filed by mail, Form 1099-R should be attached.

I don't think you need to make a separate entry to report the rollover of $50,000 to a Roth IRA. If the payer did not issue Form 1099-R, then there is nothing to report. The distribution is not taxable.

The rollovers do not have any effect on whether the taxpayer can make a 2013 contribution to a traditional IRA. All of the normal restrictions and limitations (income, participation in a retirement plan at work, etc.) remain applicable.

BMK