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mw305
New Member

I received a 1042-S because I withdrew my 401k plan due to moving to Germany for good. How do I enter the info in the section 401k? I don’t have a 1099, only a 1042-S.

 
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6 Replies
LinaJ2018
Intuit Alumni

I received a 1042-S because I withdrew my 401k plan due to moving to Germany for good. How do I enter the info in the section 401k? I don’t have a 1099, only a 1042-S.

what is the code?
mw305
New Member

I received a 1042-S because I withdrew my 401k plan due to moving to Germany for good. How do I enter the info in the section 401k? I don’t have a 1099, only a 1042-S.

It’s code 15 chapter Indictator 3
LinaJ2018
Intuit Alumni

I received a 1042-S because I withdrew my 401k plan due to moving to Germany for good. How do I enter the info in the section 401k? I don’t have a 1099, only a 1042-S.

Please see the answer below.
LinaJ2018
Intuit Alumni

I received a 1042-S because I withdrew my 401k plan due to moving to Germany for good. How do I enter the info in the section 401k? I don’t have a 1099, only a 1042-S.

According to 2018 Form 1042-S , code 15 is for Pensions, annuities, alimony, and/or insurance premium.

If you are a resident for tax purposes, you would report as if you receive a Form 1099-R.  To enter the information in TurboTax online program, here are the steps (online):

  • Sign into your account and select Take me to my return
  • At the right upper corner, type in 1099r, then Enter
  • Select Jump to 1099r
  • On screen, Your 1099-R / Did you have any of these income in 2018 ?, answer Yes and select                                                  Continue
  • Next screen, Choose your bank or brokerage, select I'll type it in myself to continue

mw305
New Member

I received a 1042-S because I withdrew my 401k plan due to moving to Germany for good. How do I enter the info in the section 401k? I don’t have a 1099, only a 1042-S.

Thank you. The problem now is that the numbers they are asking for are not the same on my 1042-S. The only thing it shows me is my gross income and the tax I already paid on it.
LinaJ2018
Intuit Alumni

I received a 1042-S because I withdrew my 401k plan due to moving to Germany for good. How do I enter the info in the section 401k? I don’t have a 1099, only a 1042-S.

Per IRS, if they put the code 15, its for the pension amount. In your case, it's the distribution from your 401k.  If they report something different that is not in compliance with the 1042-S, you would need to return to the employer for a corrected code hence a corrected Form 1042-S.  You might want to verify with your employer why they are reporting your gross income instead of the pension amount.
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