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In a job change in 2018 my 401K was distributed and rolled directly into an IRA. Is this a distribution? Do I enter it for the Retirement Savings Contribution Credit?

 
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2 Replies

In a job change in 2018 my 401K was distributed and rolled directly into an IRA. Is this a distribution? Do I enter it for the Retirement Savings Contribution Credit?

it is a distribution but it is not taxed.

it is not a contribution,

it doesn't go on your 2019 tax return.

dmertz
Level 15

In a job change in 2018 my 401K was distributed and rolled directly into an IRA. Is this a distribution? Do I enter it for the Retirement Savings Contribution Credit?

The Form 1099-R reporting this distribution from the 401(k) must be entered but the indication that it was entirely rolled over to a traditional IRA makes it nontaxable.

 

This transaction does not get entered anywhere under Deductions & Credits, not in the IRA section, not in the Retirement Savings Contributions section.

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