Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 22, 2022 10:21:37 PM

My wife changed employers and transfer her 401k. We received this in a 1099 form and I want to make sure this doesn't count as a withdrawal?

0 1 269
1 Replies
Expert Alumni
Feb 23, 2022 5:02:20 AM

How you handle it, depends on how you transferred the money. If it was a custodian to custodian transfer, then you will have a Code G. All you need to do is enter the 1099-R exactly as it is.

 

If you withdrew the money and then redeposited it in a retirement account such as another 401k or IRA within 60 days, then you will have a couple of extra steps. You will need to note this in the interview. Simply tell the program what you did when you arrive at that screen.