Catherine Posted March 25, 2013 Report Posted March 25, 2013 Older client didn't like her annuity. Cashed it out (~$85K; basis ~$70K). Well _within_ the 60-day limit, put $50K into an IRA. 1099-R from annuity was coded 7, normal distribution. How do I enter the rolled over amount in ATX? TIA, Catherine Quote
grandmabee Posted March 25, 2013 Report Posted March 25, 2013 can you rollover an annuity into an IRA? Quote
Catherine Posted March 26, 2013 Author Report Posted March 26, 2013 If it is a qualified annuity -- which my client assured me this was. Turns out, on talking to the financial adviser who helped with the transaction, that it was a non-qualified annuity, and was not put into an IRA at all. So the whole question is moot (and another in the long list of good reasons to talk to the broker when your older clients make major financial moves). Quote
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