I rolled a previous employers 401k into an IRA in January 2018 but took an early $500 distribution($400 net). Do I need to claim it on 2017 taxes?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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Turbo tax program is prompting me to enter this info. Is this because I am contributing post tax dollars to the IRA? Can I wait until 2018 taxes to claim this?

TurboTax Deluxe Online

Best answer by MichaelL1

This goes on the 2018 return.

You will get a 1099R at end of 2018 and will enter this rollover on the 2018 return.

Note: A rollover is not a contribution.

MichaelL1Answer

Level 15

This goes on the 2018 return.

You will get a 1099R at end of 2018 and will enter this rollover on the 2018 return.

Note: A rollover is not a contribution.

patrykgsdadAuthor

Level 2

yes realizing the difference from rollover to contribution. I already have contributed $100 post tax dollars and looking to put more in before april 17 when I amend my return.The end result im trying to achieve is not having to mail a check to them. Already have return. Just after filing a $700 w2 of my wifes arrived. Trying to offset the fact they want $122 for it. Id rather put cash in the IRA.