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We transferred my husbands 401k to an Ira...I got a 1099-r.. Not sure if I put it under retirement contributions

 
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We transferred my husbands 401k to an Ira...I got a 1099-r.. Not sure if I put it under retirement contributions

Let me make sure that I understand the situation:
1. You received money from your husband's 401(k) plan, and

2. within 60 days, you placed the whole amount into an IRA, right?

If so, under Federal Taxes->Wages & Income, you will go down to "IRA, 401(k), Pension Plan Withdrawals (1099-R)" and click on it. You will go through a somewhat lengthy interview in which you will enter the data in the 1099-R. Eventually, though, you will get to a screen that is entitled "What Did You Do With The Money From XXX" where XXX is the name of the institution administering the 401(k) plan.

1. Click on "I moved the money to another retirement account (or returned it to the same retirement account)."

2. Click on "I rolled over all of this money." (if this is true)

In this case, the amount taken out of the 401(k) is tax-free and will be correctly reported on page 1 of the 1040.

Does this cover your situation?


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2 Replies

We transferred my husbands 401k to an Ira...I got a 1099-r.. Not sure if I put it under retirement contributions

Let me make sure that I understand the situation:
1. You received money from your husband's 401(k) plan, and

2. within 60 days, you placed the whole amount into an IRA, right?

If so, under Federal Taxes->Wages & Income, you will go down to "IRA, 401(k), Pension Plan Withdrawals (1099-R)" and click on it. You will go through a somewhat lengthy interview in which you will enter the data in the 1099-R. Eventually, though, you will get to a screen that is entitled "What Did You Do With The Money From XXX" where XXX is the name of the institution administering the 401(k) plan.

1. Click on "I moved the money to another retirement account (or returned it to the same retirement account)."

2. Click on "I rolled over all of this money." (if this is true)

In this case, the amount taken out of the 401(k) is tax-free and will be correctly reported on page 1 of the 1040.

Does this cover your situation?


dmertz
Level 15

We transferred my husbands 401k to an Ira...I got a 1099-r.. Not sure if I put it under retirement contributions

... and do *not* report this under Deductions & Credits -> Retirement and Investments -> Traditional and Roth IRA Contributions.
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