Rolled $225,167 from 401K. 401K manager withheld $45,033. deposited balance ($180,134) into IRA at bank. reported the amount rolled as $180,134. Just want to verify?

[BrendaB651]

Only deposited the $180,134 into IRA at Bank.  Just want to verify that this is correct answer.

[dmertz · Accepted solution]

You rolled over only $180,134.  The $45,033 withheld for taxes remains a taxable distribution to you, includible on Form 1040 line 5b and, if you are under age 59½, subject to an early-distribution penalty on Form 5329.