topic I got laid off December 6 2019 closed my 401k the federal taxed it and sender me a check with what ever was left from the 401k what should I do ? in Retirement tax questions

I got laid off December 6 2019 closed my 401k the federal taxed it and sender me a check with what ever was left from the 401k what should I do ?

hawaiian — Thu, 06 Feb 2020 00:52:58 GMT

MarilynG1 — Thu, 06 Feb 2020 01:10:42 GMT

You should receive a Form 1099-R from the Payor of the Check for your 401K distribution.

Contact the Payor, or go to their website to see if you can get the form.

They are required to send to it to you by January 31st so you can file your tax return including it.

Click the link for more info on How to Enter a 1099-R.

fanfare — Thu, 06 Feb 2020 03:34:00 GMT

when in December did you close it ??

You have 60 days to roll over the money into your own IRA.

For best results you must also put in the withholding (federal tax) from your other funds and then wait for a refund of that tax.