My 401K was rolled over into a simple IRA and then I withdrew the funds. Do I have to report the rollover and the withdrawal since it is the same funds?

posted

Connect with an expert

1 Reply

My 401K was rolled over into a simple IRA and then I withdrew the funds. Do I have to report the rollover and the withdrawal since it is the same funds?

Yes, you need to report the rollover and the distribution from the Simple IRA.

They are two different distributions from two different accounts. You should have two separate Form 1099-Rs to include as part of your return that will report the distributions.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

My 401K was rolled over into a simple IRA and then I withdrew the funds. Do I have to report the rollover and the withdrawal since it is the same funds?

My 401K was rolled over into a simple IRA and then I withdrew the funds. Do I have to report the rollover and the withdrawal since it is the same funds?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

My 401K was rolled over into a simple IRA and then I withdrew the funds. Do I have to report the rollover and the withdrawal since it is the same funds?

Do you have an Intuit account?

My 401K was rolled over into a simple IRA and then I withdrew the funds. Do I have to report the rollover and the withdrawal since it is the same funds?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert