How to Report an IRA Rollover on a Tax Return

How to Report an IRA Rollover on a Tax Return

Step 1

Determine the amount of money that you took out of your by consulting the 1099-R form that you should receive at the beginning of the next year from your financial institution that you took the money out of. For rollovers made during the 2009 tax year, you should receive your 1099-R by early February.

Step 2

Report this amount as an IRA distribution on Line 15a of your Form 1040 tax return or Line 11a of your form 1040A tax return.

Step 3

Determine how much of your rollover is taxable. If you rolled money from a tax-deferred IRA, including traditional IRAs, SEP IRAs and SIMPLE IRAs, to another tax-deferred IRA, or if you rolled money from a Roth IRA to another Roth IRA, you owe no tax. If you moved money from a tax-deferred IRA to a Roth IRA, you must pay income taxes on the amount converted.

Step 4

Report the amount of the rollover that is taxable on Line 15b of Form 1040 or Line 11b of Form 1040A and write "Rollover" next to the line.

Step 5

Report any federal income tax withheld from your rollover as taxes withheld to apply that amount to your tax bill. The amount withheld can be found in Box 4 of your 1099-R form.