Hi! I'm in the section of Saver's Credit, and it asks if I received a Distribution and how much. I don't know how to answer because I received a Distribution, but it was a rollover that went straight from my 401K to my Traditional IRA. Do I need to enter that?
Thank you so much!!
Apryl
You'll need to sign in or create an account to connect with an expert.
No, you do not need to enter the amount of your distribution from your 401k to a Traditional IRA.
You would only include any taxable distributions that you may have had.
No, you do not need to enter the amount of your distribution from your 401k to a Traditional IRA.
You would only include any taxable distributions that you may have had.
You would also need to include any nontaxable amounts distributed and not rolled over, such as nontaxable amounts distributed from a Roth IRA.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
taxingtim
New Member
halseyw33
New Member
user17736829280
Returning Member
BTRR
Level 3
sonzoil
Level 4