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pegotiblue
New Member

I rolled over a 401K to IRA how do I report?

There were no distributions. When I go to the 2016 tax documents in my Fidelity account I only see 2 forms 5498 but don't know what to do with them.

1 Reply
KenH1
New Member

I rolled over a 401K to IRA how do I report?

If you rolled over a 401k, you need to have from 1099-R from the 401k administrator.   Is Fidelity where the money came from, or where it went?   Was it in 2016?  Those form 5498s only report year-end balances and contributions made.  When you get form 1099-R, enter it here (rollovers are tax-free but still reported):

Click Federal Taxes (top menu)

Click Wages & Income (just below top menu)

Scroll down to Retirement Plans and Social Security and click Show More (if necessary)

Click Start next to IRA, 401(k), Pension Plan Withdrawals (1099-R)

Enter your 1099-R exactly as printed, paying special attention the the distribution code in Box 7 and the "IRA/SEP/SIMPLE" box.

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