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mjs_nomad
New Member

If I rolled over my 401k from a former employer to a SEP IRA do I need to report it on my tax return?

 
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Accepted Solutions
SweetieJean
Level 15

If I rolled over my 401k from a former employer to a SEP IRA do I need to report it on my tax return?

Yes, if you receive a 1099-R.

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3 Replies
SweetieJean
Level 15

If I rolled over my 401k from a former employer to a SEP IRA do I need to report it on my tax return?

Yes, if you receive a 1099-R.

dmertz
Level 15

If I rolled over my 401k from a former employer to a SEP IRA do I need to report it on my tax return?

The 401(k) plan is required to send you a Form 1099-R for this distribution from the 401(k) and it must be reported.  The gross amount shown in box 1 of the Form 1099-R will appear on Form 1040 line 16a or Form 1040A line 12a.  Provided that the entire taxable amount shown in box 2a of the Form 1099-R was rolled over, the entire distribution will be excluded from line 16b or 12b making the distribution nontaxable.
mjs_nomad
New Member

If I rolled over my 401k from a former employer to a SEP IRA do I need to report it on my tax return?

Thanks, I appreciate your detailed response.
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