wc6386
Level 2

Hi, I took full amount withdraw from a Rollover IRA account (says Bank-A) and request check to payee of other Rollover IRA account (says Bank-B FBO IRA).   I thought this is a simple IRA transfer but Bank-A issues 2020 1099-R with full taxable amount in BOX 2a, check "total distribution" in BOX 2b and enter 7 in BOX-7.   On Bank-B's IRA account, it has already received check and deposited it within a week to linked IRA.  Bank-B also issues exact/correct amount received on 2020 5498 form.  How should I report this transition on 2020's Tax?  Please advise.

Thanks

 

 

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