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Posted by Phil Marti on April 8, 2008, 7:42 am
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> When a rollover is done from a qualified employer plan to a Trad
> IRA and the owner receives a check, the originating broker issues
> a 1099-R.
>
> When the check is deposited within the statutory time limit into
> an IRA at another broker, what form should that broker issue to
> report the qualified rollover?
I believe the new custodian issues a 5498.
> Should the taxpayer expect to get a copy of that form?
If one is issued, yes. However, they're not due until May for 2007
transactions.
If this has to do with 2007 return preparation, you don't need such a form.
--
Phil Marti
Clarksburg, MD
--
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