Filed my federal tax return and and did not know of a 1099-r. What is a 1099-r and how does it work? What can I do if I already filed my federal tax return.

[tmmorosa42]

I filed my Federal and one state tax forms (I have more than one state tax form). I had thought I had received all of my forms that were necessary for filing, but then I had discovered that I had a 1099-r form. I did a bit of research on the form as I've never seen it before and it looks like I would get this form if there was a rollover and or if I withdrew money from a retirement account. Now I did not withdraw but I wanted to ask what does rollover mean? Did my previous employer send over my 401k (which this is what the form must be for because I don't have any other retirement accounts) to my new employer? Or is this something I have to fill out every year if I have payment elections going to a 401k? If so, that means I would have two 1099-r forms (I had two jobs total in 2023). So I already filed but left off my 1099-r form(s). My status is pending currently as I filed 3 days ago. What can I do? The retirement money amount was small (did not exceed 500 dollars) and I did not touch the money. Would it matter if it remained left off of my taxes?

[xmasbaby0]

A 1099R must be entered.   If you filed without out entering it, you are going to have to amend your tax return after it has been fully processed.  You will not be able to do that until late February.  A 1099R is sent to you if you took money out of a retirement account or if you rolled it over to a new account.   A copy of it is sent to the IRS and the IRS will want to know why it was not entered if you do not take care of entering it.     Do not make any changes to your tax return now.  Wait until it has been fully processed.

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.