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rvins004
New Member

I rolled over some 401K accounts to an IRA account but nothing is taxable. Does this count as distributions? Do I need to report this?

I only received one 1099-R form (taxable income $0.00)
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DavidD66
Employee Tax Expert

I rolled over some 401K accounts to an IRA account but nothing is taxable. Does this count as distributions? Do I need to report this?

A rollover is not a taxable event, but you need to report it on your tax return by entering the Form 1099-R.  If asked, be sure to answer the question ""What Did You Do With The Money From [Retirement Plan]?" by indicating you "rolled over all of this money to an IRA or other retirement account (or returned it to the same account)."

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2 Replies
macuser_22
Level 15

I rolled over some 401K accounts to an IRA account but nothing is taxable. Does this count as distributions? Do I need to report this?

Yes it must be reported as a rollover.

 

Just enter the 1099-R and answer the followup questions.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
DavidD66
Employee Tax Expert

I rolled over some 401K accounts to an IRA account but nothing is taxable. Does this count as distributions? Do I need to report this?

A rollover is not a taxable event, but you need to report it on your tax return by entering the Form 1099-R.  If asked, be sure to answer the question ""What Did You Do With The Money From [Retirement Plan]?" by indicating you "rolled over all of this money to an IRA or other retirement account (or returned it to the same account)."

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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