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I did a rollover, return of excess contribution, or recharacterization in my IRA. Why did I get a 1099R showing a distribution?

April 26, 2017contribution distribution excess IRA recharacterization Return rollover

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I did a rollover, return of excess contribution, or recharacterization in my IRA. Why did I get a 1099R showing a distribution?

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Distributions are always coded on the 1099R. If a person does a rollover, Return or excess contribution, or recharacterizes back into the IRA from their ROTH they often think these amounts should not be reported on the 1099R. This is not the case. All of these original distributions WILL be listed on the 1099R. The movement back into the IRA from any of the above situations will be listed on the 5498 which does not come out until May.