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Retirement tax questions
@Florencehooper14215 wrote:
I took a withdraw from my 401k, which I received a 1099R for. It was put into an IRA, not a Roth IRA. I only have a 5498 for the money being put into the IRA. Shouldn't I be able to say it wasn't an early withdraw, but rather a transfer from one qualified plan to another?
Did you have a code 1, 2 or 7 in box 7? The question would have been asked what did you do with the money. And you should have indicated that you moved to another retirement account.
Or was it a code G? Then there would not a question asked for what you did with the money since the code G is a rollover.
March 1, 2020
2:49 PM