Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
jdpatrick909
New Member

HI James received a 1099R when he changed jobs but rolled the entire amount into his new employers 401k do i need to report it?

 
1 Reply
Lisa995
Level 12

HI James received a 1099R when he changed jobs but rolled the entire amount into his new employers 401k do i need to report it?

Yes, you need to include the 1099R. 

If its a Code G in Box 7, then the program will automatically know its a rollover and treat is accordingly. 

If a different code is in Box 7, you'll have to answer the follow-up questions about what you did with the money, to avoid it being counted as taxable income.

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
Dynamic AdsDynamic Ads
Privacy Settings
v