@Helen123 wrote:
Hi, I plan to do the pre-tax 401 K direct roll over. I started transferring money in from the new employer 401k, but I have not started transferring money out from the old 401k. I assume I have not started the roll over yet and will not receive 1099R and no tax event starts. Is it correct? @Opus 17
Thanks,
Helen
Your question is still a bit confused, I'm not sure the terms you are using. If you are contributing funds to a 401k at your new employer via payroll deduction, that is never reported on a 1099, only on your W-2. A 1099 is issued for a withdrawal. If the withdrawal from the old 401k was not made in 2024, there will be no 1099-R for 2024. (And in fact, there are some cases where a 1099-R is not even issued. A direct rollover from one 401k to another may be one of those cases, as long as the money is directly transferred and doesn't come into your hands temporarily. Other experts know these exceptions better than I do.)
