Trad IRA Rollover

First off, a rollover from a qualified plan to a traditional IRA is not a taxable transaction unless you actually receive the funds (check made out to you) and you don't deposit it within the requisite 60 day period. Secondly, the date of the rollover will be 2015.

Lastly, if you have after-tax contributions in your plan that are included in the rollover, you need to file Form 8606 to establish the cost basis in your traditional IRA.

First off, a rollover from a qualified plan to a traditional IRA is not a taxable transaction unless you actually receive the funds (check made out to you) and you don't deposit it within the requisite 60 day period. Secondly, the date of the rollover will be 2015.

Lastly, if you have after-tax contributions in your plan that are included in the rollover, you need to file Form 8606 to establish the cost basis in your traditional IRA. =========== A rollover may not be a taxable transaction, but it is a reportable transaction even when there is a tax basis of zero. The amount withdrawn still goes on line 16a, and zero on 16b. It is reported in the year in which the distribution portion of the transaction occurs. That means it's too late to account it on a 2014 tax return.