Generally, do not report a transfer between trustees or issuers that involves no payment or distribution of funds to the participant, including a trustee-to-trustee transfer from one IRA to another IRA,
damjam wrote:I did two transfers last year involving two different firms that I was taking money from, and did receive two 1099-Rs with code G in box 7 (rollover).
Upon further reflection I believe these transactions were not true trustee-to-trustee transfers.
The firms from which the funds were departing issued checks made out to the receiving firm, but mailed the checks to me. I then had to forward the checks onto the receiving firm. Even thought I never touched the money I did touch the checks. I remember a debate some time ago as to whether this scenario would constitute a direct trustee-to-trustee transfer or a direct rollover or even an indirect rollover. I guess we have our answer now.
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