cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

401 rollover

I retired 2019 and rolled over my 401 to a big name investment company. I received a 1099R from my former employer for the total distribution, but didn't receive anything from the investment company about it being directly rolled over...the total distribution was sent directly to the investment firm.

How should I report the rollover on my taxes?

5 Replies
Highlighted
Level 15

401 rollover

Your 1099-R should have a code that determines it is a rollover. The codes for a direct rollover are "G" or "H" (if a Roth). TurboTax will pick up on this code and your distribution won't be taxable.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Highlighted
New Member

401 rollover

Thank you. Should the total amount be showing up as income?

Highlighted
Level 15

401 rollover

Yes, as long as you entered the rollover code, it will not affect your return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Highlighted
New Member

401 rollover

Thank you

Highlighted
Level 15

401 rollover

Your Welcome!

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**