topic I withdrew from my 401k last year but used the funds to expand my business what form do I need to report to the IRS? Is it a 1099-R? in Retirement tax questions

I withdrew from my 401k last year but used the funds to expand my business what form do I need to report to the IRS? Is it a 1099-R?

jrshiki3 — Mon, 23 Feb 2026 10:11:00 GMT

It was used for business purposes, can that be shown as well?

Re: I withdrew from my 401k last year but used the funds to expand my business what form do I need to report to the IRS? Is it a 1099-R?

xmasbaby0 — Thu, 26 Jan 2023 01:14:09 GMT

You will get a 1099R for the money you took out of your 401k and you need to enter it on your tax return:

To enter your retirement income, Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.

Re: I withdrew from my 401k last year but used the funds to expand my business what form do I need to report to the IRS? Is it a 1099-R?

dmertz — Thu, 26 Jan 2023 01:55:42 GMT

Using the money for your business is not relevant to the tax treatment of the distribution.