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- 407B ROLLOVER TO AN IRA
407B ROLLOVER TO AN IRA
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JJD753
Level 3
03-30-2021
09:10 AM
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I have a client who recieved a distribution form his 457B plan on a w-2 and then deposited it in his ira within 60 days. Can he do this? I'm thinking it should have been done institution to institution and maybe that would have been reported on a 1099R? At any rate, if he is allowed to do this, how would I show it on the return?
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1 Comment 1
qbteachmt
Level 15
03-30-2021
11:38 AM
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Use this chart:
https://www.irs.gov/pub/irs-tege/rollover_chart.pdf
It also matters if that is a governmental 457(b), or nonqualified.
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