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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 22937
Experience:  15years with H & R Block. Divisional leader, Instructor
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I got a 1099 R from Vanguard showing distributions of $19462

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I got a 1099 R from Vanguard showing distributions of $19462 and taxable amount of $19462. The problem is it includes the sale of a AMG mutual fund which went into the bank and the remainder of the amount I rolled over into a Janus IRA mutual fund. I have paper work tracking this roll over. When I started to fill out my return I could find a way to reflect this roll over. At present my return the total $19462 as income. How do I report this transaction?
JA: Was this a Form 1099 for interest, dividends, or government payments?
Customer: No
JA: Anything else you want the Accountant to know before I connect you?
Customer: No

Hello, I'm Robin. Welcome to JustAnswer. I'm typing up my reply. After you read my answer, post below so I know you understand or let me know.

You cannot sell a mutual fund and roll that into an IRA

A rollover is when you take funds from a retirement account and transfer that to another tax deferred account

If you took out $19462 from a retirement account and put any into another then you just show that on the 1040 by reporting the taxable amount

Customer: replied 7 days ago.
The mutual fund I sold was a fund from AMG but was in the Vanguard portfolio. I sold the the AMG fund on 3/12/29 and the Vanguard fund I rolled over into a Janus fund on 8/4/19. Vanguard on the 1099 I received combined the two transaction to show a total. I have paperwork on all the transactions. I expected to get a 1099 for the 3/12 transaction and another 1099 on the 8/4 transaction.

Normally the only 1099R woudl be fo rth e distribution and the Form 5498: IRA Contributions Information reports your IRA contributions to the IRS. That will confirm yu r situation and shows the IRS the amount put in

The IRS can see the 5498 from Vanguard as proof

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