Should a 1099b reporting a 401K rollover have to be reported?

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February 2, 2026
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SusanY1

Level 15

A 401(k) rollover is reported on Form 1099-R. If it is a direct rollover it will have code G in Box 7.

The rollover is reported on the tax return, though it is not taxed. It will show on Line 5a, but not Line 5b of Form 1040 with the box "rollover" checked on this line.

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user17717229566

Level 2

then why is the rollover amount listed as a gross distribution?

dmertz

Level 15

"why is the rollover amount listed as a gross distribution?"

Because that's the total amount of money that was distributed from the 401(k). Because it was rolled over, this income is treated as nontaxable income instead of being treated as taxable income.