How do I file my 1099 401k if I withdrew in 2016, then deposited it into another account in 2017?

[rwilliams415]

So I had to withdraw a 401k from company A, which I did in Dec. 2016, waited for the check to come, then sent it off to be deposited into company B's 401k, How would I need to report this on my taxes?
I feel I should just report my 1099 from company A as it was in '16, is this correct?
Let me know if any other information is needed to help me out, i'll gladly provide any necessary info! 🙂

[fanfare · Accepted solution]

On entering one 1099-R, you will be asked "Did you do anything with the money"

Your answer: "moved it all into another plan"

[rwilliams415]

Now since it was deposited this year(January) will I need to enter a 1099 for that deposit?(Still haven't received a 1099 and not one available online from the 401k's company)
Note: This was withdrawn in December 2016.

Thanks for your help 🙂

[fanfare]

No. when you say you moved it into another plan, TurboTax marks it as a rollover, and you are done.

[Carl]

Enter the 1099-R *EXACTLY* as printed. then (and this is important) pay attention to detail on the screens that will follow and select appropriately. If it was taken out of a traditional tax deferred retirement account, and then deposited in a different traditional tax deferred account, if you answer the questions correctly on the screens that follow the 1099-R entry screen, you will not be taxed on it.

[rwilliams415]

Thank you Carl, do I need to input company A's 1099-R, Company B's or both?
Just want to make sure I'm doing it correctly 🙂

[Carl]

If you have two or more 1099-R's, enter each one separately, in the order the transaction occurred.