Rollover from non-Roth 401(k) directly to Roth IRA

[Guest mickiemurphy]

As of 1/1/08 we can bypass the traditional IRA when rolling over regular 401(k) money, and go straight to the Roth IRA. I can find nothing that designates how we report this on the 1099R when coming out of the 401(k). Can anyone confirm that it is simply reported as a code G rollover or tell me otherwise? Does the receiving custodian then have to report on Form 5498 the taxability of the incoming rollover?

[ERISAnut]

Use Code "G" in box 7. Report the total amount rolled in box 1, the taxable amount in box 2a, and the basis recovery in box 5.

Hope this helps.

[Guest mickiemurphy]

Use Code "G" in box 7. Report the total amount rolled in box 1, the taxable amount in box 2a, and the basis recovery in box 5.

Hope this helps.

Perfect. Thanks!