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New Member
posted Jan 29, 2022 7:20:21 AM

I rolled my 401k over to a new plan this year. Do I have to report the gross distribution as income?

I took a gross distribution from the old 401k provider, but rolled the funds over to a new 401k with a new provider.

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2 Replies
Level 15
Jan 29, 2022 9:09:04 AM

Did you do the rollover within 60 days?

Level 2
Jan 29, 2022 9:41:46 AM

Did you get a check from the 401 K custodian ?  

Did you do a  custodian to custodian transfer ?  This would mean 1 financial institution sent the money directly to the other, with out you actually receiving it.  You mentioned Rolled over your 401 K.... This is NOT a distribution, and NO tax is do.  Either way, if custodian transfer was done your good. If you received a check and were responsible to "roll it over", yourself then you had 60 days to do it.