After I submitted my returns, I received a 1099-R for an old 401k which I had transferred from Schwab to Fidelity. I did not get any cash. How do I handle?

Forum|Forum|3 months ago
April 21, 2026
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TurboTax Online

AnnetteB6

Level 15

As long as you did not receive a check made out to you personally to have the funds transferred from Schwab to Fidelity, then you can just keep that Form 1099-R with your tax records in the unlikely event that the IRS has a question about it. If the distribution code in box 7 shows 'G', then that indicates that the money was directly rolled over to another similar account which means it is not a taxable transaction.

Even though it would normally be reported as part of your tax return, it would not be taxable and would not affect your refund or balance due. So, filing an amended return would not be necessary in this case.

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