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

[SweetieJean · Accepted solution]

Yes, if you receive a 1099-R.

[dmertz]

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]

Thanks, I appreciate your detailed response.