I rolled over a 401K to IRA how do I report?

pegotiblue · ‎June 6, 2019

There were no distributions. When I go to the 2016 tax documents in my Fidelity account I only see 2 forms 5498 but don't know what to do with them.

KenH1 · ‎June 6, 2019

If you rolled over a 401k, you need to have from 1099-R from the 401k administrator. Is Fidelity where the money came from, or where it went? Was it in 2016? Those form 5498s only report year-end balances and contributions made. When you get form 1099-R, enter it here (rollovers are tax-free but still reported):

Click Federal Taxes (top menu)

Click Wages & Income (just below top menu)

Scroll down to Retirement Plans and Social Security and click Show More (if necessary)

Click Start next to IRA, 401(k), Pension Plan Withdrawals (1099-R)

Enter your 1099-R exactly as printed, paying special attention the the distribution code in Box 7 and the "IRA/SEP/SIMPLE" box.

I rolled over a 401K to IRA how do I report?

Retirement tax questions