Do I need to report IRA distribution for a previous year that has already been filed?

[dmertz · Accepted solution]

All regular retirement account distributions are reportable on the tax return for the year in which the distribution occurred.  The year in which the distribution occurred is indicated by the year of the Form 1099-R.

[shannoncc06]

So I did file where I withdrew and closed a 401K in 2015, but under Federal Taxes deductions & credits section for credit for retirement savings contribution it is asking if there was a "distribution" since 2013? Do I need to put the amount that I received in 2105? When I do key it in the " tax break" goes away and my fund drops. Thanks everyone!

[dmertz]

Yes, you need to enter the amount that you withdrew from the 401(k) in 2015 and did not roll over to another retirement account.  The distribution made in 2015 must be subtracted from the amount of your 2016 contribution and only the remainder is considered for the Retirement Savings Contributions Credit.  Apparently your 2015 distribution is larger than the amount you contributed for 2016, so you are not entitled to the tax credit.

[fanfare]

All IRA distributions should appear, or should have appeared, on your tax returns. They may or may not be taxable, in full or in part.