I got all money from old 401k-Fidelity-taxed. I deposited it into my USAA checking. I put that exact amount into a UTMA for nephew. What else do I fill out. 1099-R and?

[mrush812]

I got a new job and cashed out my old 401k from the contractor company.  They used Fidelity Netbenefits.  I got taxed from $1264 to $1091.  I put the $1091 into my checking account and then directly into the UTMA for my nephew.  This is with USAA.  I know that the UTMA is probably not a qualified plan.  This plan uses stocks and has the ability to get bonds as well. I am only buying stocks as of now if that changes anything.

[Critter · Accepted solution]

Putting money into an UGMA account is not a qualified roll over for that distribution.   You will enter the 1099-R for the entire distribution on your tax return .... what you did with the money is not material on a tax return.