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If I didn’t receive my 401k disbursement until January 2021, do I have to file it on taxes for 2020 or 2021?

I received an email saying that the disbursement processed in January 5th and we received it after that point. Just want to make sure I’m doing this the right way.
2 Replies
CatinaT1
Employee Tax Expert

If I didn’t receive my 401k disbursement until January 2021, do I have to file it on taxes for 2020 or 2021?

If it was not processed until after the first of the year it is a 2021 transaction and will be reported on your 2021 return.  You should receive a 1099R from them next year to include on your return.

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If I didn’t receive my 401k disbursement until January 2021, do I have to file it on taxes for 2020 or 2021?

However, unless the law changes, distributions in 2021 are not eligible for special treatment under the CARES act.

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