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Retirement tax questions
You had what is called "constructive receipt" of the money because the way it was distributed from the 401(k) it placed the money under your control outside of a retirement account whether or not you had physical possession of the money. Because you had constructive receipt, it does not qualify as a direct rollover and cannot have been reported with code G on the Form 1099-R. As others have said, since you completed the indirect rollover by the deadline, entering the code-7 Form 1099-R and indicating that you rolled over the entire gross amount produces exactly the same result on Form 1040 as you would have gotten had the rollover instead been a direct rollover.
‎February 14, 2021
9:54 AM