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.
02256
2 Replies
CatinaT1
Expert Alumni
Feb 2, 2021 7:39:03 AM
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.
Opus 17
Level 15
Feb 2, 2021 8:11:02 AM
However, unless the law changes, distributions in 2021 are not eligible for special treatment under the CARES act.