401K from my old Company account rolled over to IR...
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kavehmavaji
Level 2

401K from my old Company account rolled over to IRA rollover account in Fidelity. Should I report this money transfer in my 2020 tax return? If yes, how should I do it?

 
4 Replies
VolvoGirl
Level 15

401K from my old Company account rolled over to IRA rollover account in Fidelity. Should I report this money transfer in my 2020 tax return? If yes, how should I do it?

Did you transfer it in 2020?  You probably should have a 1099R for it.  Was it a direct trustee to trustee transfer and you didn't get a check or touch the money?

kavehmavaji
Level 2

401K from my old Company account rolled over to IRA rollover account in Fidelity. Should I report this money transfer in my 2020 tax return? If yes, how should I do it?

@VolvoGirl

 

Yes, I received 1099R. 

 

Yes, it was a direct trustee to trustee transfer and I didn't get a check or touch the money.

VolvoGirl
Level 15

401K from my old Company account rolled over to IRA rollover account in Fidelity. Should I report this money transfer in my 2020 tax return? If yes, how should I do it?

You have to enter the 1099R.  What is the code in box 7?  Is it a G?

 

Enter a 1099R under

Federal Taxes Tab or Personal (Home & Business)

Wages & Income at the top

 

Then scroll way down to Retirement Plans and Social Security,

Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

 

If you are filing a Joint return be sure to pick which person it is for.

kavehmavaji
Level 2

401K from my old Company account rolled over to IRA rollover account in Fidelity. Should I report this money transfer in my 2020 tax return? If yes, how should I do it?

@VolvoGirl  Yes, it is a G. 

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