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Do I have to file a 401K since the only change was to put it into a IRA? Do I need to file this?

 
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georgesT
New Member

Do I have to file a 401K since the only change was to put it into a IRA? Do I need to file this?

If you received a 1099-R for this rollover distribution, you will need to report this on your tax return

Because you received a 1099-R, the IRS will also have received a copy of this 1099-R. You will need to report this 1099-R distribution/rollover on your tax return but none of it will be taxable. Just make sure that when you are reporting this information into TurboTax that for the question "What Did You Do With The Money From (your retirement fund)?", answer "I moved the money to another retirement account (or returned it to the same retirement account)" 

From: https://ttlc.intuit.com/questions/3262652-rollover-401k-to-ira

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2 Replies
georgesT
New Member

Do I have to file a 401K since the only change was to put it into a IRA? Do I need to file this?

If you received a 1099-R for this rollover distribution, you will need to report this on your tax return

Because you received a 1099-R, the IRS will also have received a copy of this 1099-R. You will need to report this 1099-R distribution/rollover on your tax return but none of it will be taxable. Just make sure that when you are reporting this information into TurboTax that for the question "What Did You Do With The Money From (your retirement fund)?", answer "I moved the money to another retirement account (or returned it to the same retirement account)" 

From: https://ttlc.intuit.com/questions/3262652-rollover-401k-to-ira

dmertz
Level 15

Do I have to file a 401K since the only change was to put it into a IRA? Do I need to file this?

And, in fact, the 401(k) plan is *required* to send you a Form 1099-R for this distribution from the plan, so if you haven't received the Form 1099-R, contact the plan to obtain the missing form.
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