topic I have contributerd to my company's 401K 1264.19 4% of gross.I have taken no distributions. how do I report this? in Retirement tax questions

I have contributerd to my company's 401K 1264.19 4% of gross.I have taken no distributions. how do I report this?

glendahurlbut — Sun, 14 Mar 2021 01:10:20 GMT

Re: I have contributerd to my company's 401K 1264.19 4% of gross.I have taken no distributions. how do I report this?

SweetieJean — Sun, 14 Mar 2021 01:12:31 GMT

It should already be accounted for on your W-2, so don't enter it anywhere else.

Re: I have contributerd to my company's 401K 1264.19 4% of gross.I have taken no distributions. how do I report this?

glendahurlbut — Sun, 14 Mar 2021 01:28:26 GMT

OK got that.. I do not actually have the right form from Brighthouse. Just getting the years total distribution from their Quarterly statement -- This is an annuity which was purchased by inheritance funds. Is it taxable? I do not believe I paid taxes on it last year --- I did have the correct form there

Re: I have contributerd to my company's 401K 1264.19 4% of gross.I have taken no distributions. h...

SamS1 — Mon, 15 Mar 2021 18:01:10 GMT

Possibly. You should receive a 1099R for a distribution from the annuity. If any earnings on the annuity are distributed out, only that portion would be taxable, 1099Rs are required to be mailed or provided electronically to recipients by 1/31. If you have not received a 1099R and you did receive a distribution from the annuity in 2020, contact your annuity provider or log in to your account online and look for the tax forms areas.

The 1099 Series are informational reporting forms submitted to the IRS by third parties. The IRS then matches the form information to your tax return to insure all income is reported and taxed. If you do not include a 1099 received from a third party on your tax return, you will receive a notice from the IRS asking why. This is the CP2000 matching notice. If you receive this notice from the IRS, make sure and respond by the date indicate on the notice.

Re: I have contributerd to my company's 401K 1264.19 4% of gross.I have taken no distributions. how do I report this?

macuser_22 — Mon, 15 Mar 2021 18:05:24 GMT

@glendahurlbut wrote:

OK got that.. I do not actually have the right form from Brighthouse. Just getting the years total distribution from their Quarterly statement -- This is an annuity which was purchased by inheritance funds. Is it taxable? I do not believe I paid taxes on it last year --- I did have the correct form there

First you say a 410(k) contribution and now you are talking about an annuity. Which is it?

A annuity does not go on a tax return unless you received a 1099-R for it.