topic 401k 1099-R in Retirement tax questions

401k 1099-R

summertimeboy7 — Mon, 03 Feb 2025 19:16:44 GMT

If I took out a 401k distribution in late January 2025 would I have to amend my tax return that I've already filed. I just received a 1099-R in February 2025, but it has tax year 2024 on it. I would've thought I would've reported it on 2025 tax filing. I went to the plan admin website and no tax documents are listed.

Re: 401k 1099-R

BillM223 — Mon, 03 Feb 2025 19:21:45 GMT

You as a taxpayer probably operate on calendar year basis. Thus if you received the distribution in 2024, you report it on your 2024 tax return.

If you received the distribution in 2024, then you declare it on your 2025 tax return (which you will do in 2026).

From your description it sounds like a 2025 distribution printed on a 2024 form.

When did you ask for it? 2025? When did you get it ? 2025?

Then it gets reported on your 2025 return. We are working on your 2024 return now.

Re: 401k 1099-R

VolvoGirl — Mon, 03 Feb 2025 19:23:05 GMT

Something must have happened in 2024 to get a 1099R . Did you do a conversion or rollover to another account? What code is in box 7? Better ask the plan.

Re: 401k 1099-R

summertimeboy7 — Mon, 03 Feb 2025 19:40:17 GMT

It was for a rollover. Thanks for the heads up. I appreciate it. I forgot about doing the rollover in 2024.

Re: 401k 1099-R

dmertz — Tue, 04 Feb 2025 00:16:12 GMT

"If you received the distribution in 2024, then you declare it on your 2025 tax return (which you will do in 2026)."

BillM223 meant to say, "If you received the distribution in 2025, then you declare it on your 2025 tax return (which you will do in 2026)."

A 2024 Form 1099-R implies that you received a distribution in 2024.