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Retirement tax questions
1) When you left employment you had a legal choice to take a distribution OR rollover the 401(k) to an IRA. Whoever told you otherwise was either uninformed or misunderstood.
2) If your new job offers a 401(k) then nothing in the past will affect that.
3) You enter the 1099-R with the code G in the retirement 1099-R section and that will be a non-taxable rollover.
4) If you took distributions form the rollover IRA in 2018 then by law, you should have received a separate 1090-R no later then Jan. 31 2019 reporting those distributions. If not, contact the IRA custodian for a replacement 1099-R. Those distributions will be taxable income on your 2018 tax return.
**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.**
‎June 1, 2019
12:06 PM