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Level 2
April 15, 2020
Question

In a job change in 2018 my 401K was distributed and rolled directly into an IRA. Is this a distribution? Do I enter it for the Retirement Savings Contribution Credit?

  • April 15, 2020
  • 2 replies
  • 12 views
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2 replies

fanfare
Level 15
April 15, 2020

it is a distribution but it is not taxed.

it is not a contribution,

it doesn't go on your 2019 tax return.

Level 15
April 15, 2020

The Form 1099-R reporting this distribution from the 401(k) must be entered but the indication that it was entirely rolled over to a traditional IRA makes it nontaxable.

 

This transaction does not get entered anywhere under Deductions & Credits, not in the IRA section, not in the Retirement Savings Contributions section.