topic Re: 1099R in Retirement tax questions

1099R

Thistle1321 — Sat, 11 Jul 2020 21:12:24 GMT

If I moved my 401k and immediately reinvested in an IRA, do I need to report the 1099R on my taxes for the withdrawal?

Re: 1099R

Bsch4477 — Sat, 11 Jul 2020 21:21:51 GMT

Yes. The IRS will get a copy of that form and will not know that you rolled it over and so will tax you on it. When you report it the program will ask if, and how much, you rolled over preventing it from being taxed.

Re: 1099R

Thistle1321 — Sat, 11 Jul 2020 22:12:40 GMT

thanks