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Thistle1321
Level 2
July 11, 2020
Question

1099R

  • July 11, 2020
  • 1 reply
  • 1 view

If I moved my 401k and immediately reinvested in an IRA, do I need to report the 1099R on my taxes for the withdrawal? 

    1 reply

    B
    Level 15
    Bsch4477Level 15
    Level 15
    July 11, 2020

    Yes. The IRS will get a copy of that form and will not know that you rolled it over and so will tax you on it. When you report it the program will ask if, and how much, you rolled over preventing it from being taxed. 

    T
    Thistle1321Author
    Level 2
    July 11, 2020

    thanks

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