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rrm1956
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I did a direct transfer of 401 k to another institution Recieved a 1099 R. Do i need to include on taxes. Did not receive any money.

 
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dmertz
Level 15

I did a direct transfer of 401 k to another institution Recieved a 1099 R. Do i need to include on taxes. Did not receive any money.

Assuming that the transfer was not to a Roth IRA and box 2a of the Form 1099-R does not show a nonzero taxable amount, this is considered to be nontaxable income that is required to be reported on your tax return.  When you enter the Form 1099-R, it will be included on Form 1040 line 5a but excluded from taxable income on line 5b.

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