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401K Dispersement

I quit a job while having $94.23 in a 401K plan.  The plan returned the money to me minus fees of $75.15.  They did not send a 1099-R.  Do I need to report an amount on my taxes?

 

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1 Reply
MaryK4
Employee Tax Expert

401K Dispersement

Yes, you need to report the income on your tax return even if you did not receive a 1099-R.  However, they were required to issue you a 1099-R because you had tax withholding so you should contact the plan administrator to get a copy so that you can file your taxes correctly.  See What to do when a W-2 or Form 1099 is missing or incorrect.  

 

If you try to get the 1099-R and are not successful, in TurboTax, you will enter in the 1099-R section- you will be able to indicate that you did not receive a 1099-R.

 

1099-R.jpg

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