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Posted

Sometimes when you overthink something it makes you crazy and unsure of the obvious.

I have a participant who has terminated.  She had Roth and pre-tax money in her account.

Can only one 1099-R be prepared or do I need to prepare one for each money type?  Am I reading the 1099-R instructions correctly, do I put the total being distributed in box 1 and in box 5 that is where I indicate her ROTH and/or after tax voluntary contribution distribution? 

Example...  Suzie terminated and took all her money.  Her $10,000 Roth account rolled into a rollover Roth IRA.  Her $20,000 employer money into a rollover IRA

Box 1, total of all distributions  -  $30,000
Box 2, taxable money  - $20,000
Box 5, Roth and after-tax voluntary contributions  - $10,000
Box 7, Distribution code(s)  - code G and code H

Her 1st Roth salary deferral was more than 5 years ago (2012)

Or do I need to prepare 2 form 1099-Rs.

Posted

I hear you.  I have been telling people they need 2 forms.  Figured if I was wrong and could have gotten away with only 1 then all I did was extra work.  Appreciate the "free advice"

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