Today I started filling out my form 1040, and noticed 2 discrepancies in
the 1099-R forms we received. This year, we rolled over $4,325 directly
from my Ohio Deferred Compensation 457 retirement plan to a Vanguard Roth
IRA. We never got a check or anything - the $ went to an intermediary
Vanguard Money Market Fund, then to the Roth IRA.

Ohio 457 1099-R: Box 2a taxable amount: .00
Box 4 Fed. Income tax withheld: .00

Vanguard 1099-R: Box 2a: tax amt.$4,333.50
Box 4 Fed Inc. tax withheld: $433.35

This discrepancy between the two forms makes it very difficult for me to
figure out how to report the rollover on my taxes. Is the taxable amount
zero, or $4,333.50? Has income tax been withheld already or not?

Obviously, I don't want to be double taxed if it has already been
withheld, nor do I want us to be bumped up into a higher tax bracket if the
taxes on this amount have already been paid by being withheld. However, I
can't find any place on the 1040 to designate that the withholding taxes
have already been paid, and I'm afraid that this sort of thing could easily
get us audited and delay our refund.

On the Form 1040, I realize that this stuff has to be entered in the 15a &
15b area, or perhaps 16a & 16b, since it wasn't an actual IRA distribution.
I'm a bit confused about which, but most confused about whether this amount
should be listed as taxable or not, and whether it should be added to our
taxable income for the year, if it has already had tax withheld.

Until I get an answer on this, I can't proceed any further in doing my
U.S. or state tax forms. I've done research online for several hours this
morning, but can't find anything that specifically addresses this issue.
I'm stuck - help please!

Archived from group: us>taxes