Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 3:07:16 PM

I rolled over money from a 401k to a 401a, is there a penalty?

0 1 1042
1 Replies
New Member
Jun 4, 2019 3:07:17 PM

No. You probably had a direct rollover without you touching the money. In this case, you should be expecting a Form 1099R with a rollover code in Box 7 (probably G). Enter the 1099-R exactly as it appears on your paper printed form.

No taxes or penalties should result from this as the 401(a) is a "qualified employer plan".