@LaurenG1020 wrote:
My husband left a job last year 2020, so they sent him a check for his 401K. We received a 1099R regarding this money.
We have not cashed the check because he is going to roll it over into a 401K at his new job. He is not eligible to roll it over until June of this year, though. So we have not cashed the check and will roll it over in a few months. What do we do with the 1099R form when filing our taxes for 2020?
If you received a check made out to you then any rollover had to be within the 60 day time limit from the issue date of the check or it is not eligible for rollover.
It should have been rolled to a Traditional IRA within 60 days and then the IRA could be rolled to a new 401(k) plan.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
