Solved: I moved my 401(k) from one company to another. Do I still have to claim by 1099-R from the original company?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

I moved my 401(k) from one company to another. Do I still have to claim by 1099-R from the original company?

 
1 Best answer

Accepted Solutions
New Member

I moved my 401(k) from one company to another. Do I still have to claim by 1099-R from the original company?

You will enter the 1099-R into TurboTax but then you will be given the opportunity to tell the program you put it into an IRA (assuming that is the case) and how soon you did this.  If you made a timely deposit into the other IRA, TurboTax will correctly classify the 1099-R as non-taxable on your tax return.

You definitely want to input the data as the payer will send a copy of the 1099-R to the IRS.  

View solution in original post

1 Reply
New Member

I moved my 401(k) from one company to another. Do I still have to claim by 1099-R from the original company?

You will enter the 1099-R into TurboTax but then you will be given the opportunity to tell the program you put it into an IRA (assuming that is the case) and how soon you did this.  If you made a timely deposit into the other IRA, TurboTax will correctly classify the 1099-R as non-taxable on your tax return.

You definitely want to input the data as the payer will send a copy of the 1099-R to the IRS.  

View solution in original post

Dynamic Ads
v
Privacy Settings