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Thistle1321
Level 2
Jul 11, 2020 9:12 PM UTC
Question

1099R

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

    2 replies

    Level 15
    Bsch4477Level 15
    Level 15
    Jul 11, 2020 9:21 PM UTC

    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. 

    Thistle1321Author
    Level 2
    Jul 11, 2020 10:12 PM UTC

    thanks

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