How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask RD Your Own Question
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
Type Your Tax Question Here...
RD is online now
A new question is answered every 9 seconds

I have inherited an IRA from my wife. I have received the

Resolved Question:

I have inherited an IRA from my wife. I have received the cash and wish to roll it into another IRA. The company that held the annuity tells me I should report this action on an IRA Form Can you tell me which form is applicable. Thank you. Glen Harmon
Submitted: 7 years ago.
Category: Tax
Expert:  RD replied 7 years ago.
Generally you report any rollover from one traditional IRA to the same or another traditional IRA on Form 1040, lines 15a and 15b on your tax return.

You will generally receive a Form 1099R from the IRA administrator reporting the rollover if it is a direct rollover.

The other form that you may have to file is Form 5329 if the Form 1099R does not report this distribution as a direct rollover.

Let me know if you have any question.

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.

RD and other Tax Specialists are ready to help you