Multiple 1099-R Forms for same funds

bgrant85 — Tue, 24 Feb 2026 03:23:36 GMT

Hi!

In 2022, my son quit his job with which he had a pre-tax 410K account. He transferred that money to an IRA. He could not find a job quickly enough, so he began to early-withdraw money from the IRA (he's in his 20s). He received two 1099-R forms, one for the transfer to IRA ,and the other for his early withdrawals from the IRA. Do both forms need to be input into TT, even though it reflects the same funds? It seems odd seeing the same money counted as income twice, even though the original transfer is non-taxable.

Sorry, follow-up question -- it appears that unemployment is not an exception to the 10% early withdrawal penalty. Is that true?

Thanks!

BGRANT85

Re: Multiple 1099-R Forms for same funds

Bsch4477 — Fri, 10 Mar 2023 17:28:52 GMT

One 1099 probably represents his roll over into the IRA so would not be taxed. The other is his IRA withdrawal. Two different transactions so both should be reported. No waiver of penalty for unemployment.

topic Multiple 1099-R Forms for same funds in Retirement tax questions

Multiple 1099-R Forms for same funds

Re: Multiple 1099-R Forms for same funds