qbteachmt
Level 15
03-06-2020
12:47 PM
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"It would be conversion"
Then it should have gone through a Traditional IRA account first. This doesn't seem to be a rollover or a conversion. It seems your client cashed out retirement, then contributed to a Roth and has to meet those requirements for that tax year. You seem to have two separate activities:
1099-R = money Out.
5498 = money In, or she could have just kept it, since it is her money now.
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