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peterlake-pl
New Member

Very confusing year. I received a 30k check from fidelity.(retirement account). They mailed me check and I deposited it to wellsfargo before I sent the total to vanguard

I did not enter the Form 1099-R. I also withdrew 5k out but repaid within 30 days. Both payouts 30,000 and 5,000 were deposited within 30 days but I failed to report the 1099-R forms. As I read turbo tax suggestions I thought it did not need to be reported, hence the reason I did not enter the forms. What happens next?

1 Reply
Fern
New Member

Very confusing year. I received a 30k check from fidelity.(retirement account). They mailed me check and I deposited it to wellsfargo before I sent the total to vanguard

You need to amend your 2016 tax return to included both 1099 R forms you have received. They both will be reported as non-taxable income. Most importantly, you will report to the IRS that the amounts were rolled over.

See the article below for instructions on how to amend a tax return you have already filed.

https://ttlc.intuit.com/questions/1894381-how-to-amend-change-or-correct-a-return-you-already-filed
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