If $100k was removed from the tIRA, and a total of $100k was added to the Roth IRA within 60 days, that is a $100k conversion. It's really as simple as that. Whether you did withholding or not, and whether any of the money was temporarily in your possession or not, are irrelevant.I hope that that does not result in a total of $124,000 Roth Conversion, and adding $124,000 to taxable income.
Then it was incorrectly reported. The replacement amount is part of the total conversion amount. The entire converted amount of $100k should have been reported in Box 3, and none in Box 2.Last year my Fidelity Roth Form 5498 had the replaced tax withholding amount listed as Rollover contributions
Nobody has suggested that this error is likely to result in an audit or any other adverse action. But if it were me, then for future conversations I'd at least try to get it reported correctly.
Statistics: Posted by ssel — Tue Dec 16, 2025 4:29 am — Replies 64 — Views 6602