- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
You moved it to a ROTH? Was the 401K also a Roth? You will owe tax on the whole amount. Did they take any tax withholding out of it? You had to roll it into a Traditional IRA to avoid the tax. Was it a direct transfer from the 401K or did you get a check and take it to the IRA? You had 60 days to put it in the IRA. You will get a 1099R for it.
Enter a 1099R under
Federal Taxes Tab or Personal (Home & Business)
Wages & Income at the top
Then scroll way down to Retirement Plans and Social Security,
Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit
There are 4 boxes. Be sure to pick the right box for the kind of 1099R you got.
If you are filing a Joint return be sure to pick which person it is for.
‎January 14, 2024
6:05 PM