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Level 1
posted Feb 7, 2025 3:14:21 PM

Do I need to amend my tax return for 1099-R for 401k to rollover IRA with 0$ taxable income?

I got trigger-happy filing my taxes this year. I missed a 1099 – R form which shows my rollover from a company provided 401K to a rollover IRA with Fidelity after leaving a job. Box one shows the amount I rolled over,  but all of the other boxes have a zero, including the taxable income box. Do I need to amend my taxes in order to claim this or not since I have not touched this IRA and this form says zero dollars taxable income? Thanks! 

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1 Replies
Expert Alumni
Feb 7, 2025 3:19:41 PM

If it is a direct rollover (code G in Box 7), it will not be taxable, and will not change your tax return.   After your return is processed, prepare an amendment and add the 1099-R.   If in fact, it doesn't change your federal or state tax returns, cancel the amendment.   And if your tax refund or tax due does change, you can file the amendment then.   But wait until after your returns are processed; the form isn't available yet anyway.   And you probably don't need to file one.