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posted Feb 1, 2024 1:16:01 PM

Early 401k withdrawal

I requested an early payout in late December, my Merrill account said the request for the payout would process on December 31 2023. I received my check sometime in the middle of January. I have NOT received a form 1099-R. I’ve read that those forms are always sent out before January 31. Does this mean I’ll get one in January 2025 before I file my 2024 taxes?

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Level 15
Feb 1, 2024 1:23:21 PM

Only Merrill can answer the question as to whether the distribution occurred in 2023 or instead in 2024.  If the distribution occurred in 2024, you'll receive a 2024 Form 1099-R new the end of January 2025 that will need to be reported on your 2024 tax return.