Forgot to report 401k contribution? From 1099-R for prior years

[bohueilin]

Dear Turbotax Community,

Basic noob question, I noticed i did not include my prior year's 1099-R form, the 2a Taxable amount shows $0 and Distribution Code is G (rollover).  The "IRA/SEP/SIMPLE" box is NOT checked.

Explanation:

Distribution code G on your 1099-R indicates that your WRS benefit was rolled over to another qualified plan

I tried to enter them in Turbotax and still does not reflect any tax changes (not due nor refund)

Question:

Given it was 2 years ago, does it make sense to amend everything, including tax 2020, tax 2021?

Thanks

[Mike9241]

don't bother amending  G indicates it was a direct rollover from one qualified plan or account to another which makes it wholly nontaxable. 

[bohueilin]

Thank you so much! @Mike9241 

[Critter-3]

However ... keep all your records as the IRS may question this being left off the return(takes them 2 -3  years to notice it)   so you will need to respond to the notice with a copy of the 1099-R form showing it was rolled over.  Having a copy of the IRA statement showing the rollover would also be wise ... they send out form 5498 that shows the roll.  

[bohueilin]

Thanks @Critter-3  

I feel amending all of my prior years of taxes are so much work, especially involves federal and two states per year...

Thanks

[bohueilin]

Will IRS every ask me to amend my tax if there is no tax obligation, etc?

Thanks

[PattiF]

No, the IRS will not ask you to amend your return if there is no change in the tax obligation. As Critter-3 said keep all of your records.

[bohueilin]

@PattiF 

Thanks

[LindaS5247]

If there is no change to your income/tax due you do not need to file an amended return.

Click here for "Should I file an amended return? From the IRS.  Then lick "Begin" at the bottom of the page.  It will ask you specifics and recommend whether to amend your tax return or not.

Click here for information regarding when to amend your tax return.