401(k) to IRA question

[anthonybutler2]

I got a new job last year (2016) and transferred my old 401(k) to an IRA at my bank.  Is that considered a withdrawal?

[BobB7 · Accepted solution]

No, it's a rollover.  Assuming the entire gross amount was transferred to the bank, there will be no tax effect.  You will get a 1099-R form reporting it, and it DOES show on your tax return but doesn't get into taxable income.