1099 R form. i didn't cash it out but i still received the form as i had left the company and they sent the 401k to another bank. do i still file the form?

hollibaloo — Sat, 01 Jun 2019 00:31:54 GMT

i didnt cash out any more the 401k just changed banks.

Yes you will need to report this 1099-MISC on your tax re...

DS30 — Sat, 01 Jun 2019 00:31:56 GMT

Yes you will need to report this 1099-MISC on your tax return even though it is a rollover distribution.

Because you received a 1099-R, the IRS will also have received a copy of this 1099-R. You will need to report this 1099-R distribution on your tax return but none of it will be taxable. Just make sure that when you are reporting this information into TurboTax that for the question "What Did You Do With The Money From (your retirement fund)?", answer "I moved the money to another retirement account (or returned it to the same retirement account)" (see screenshot)

To enter your 1099- R in TurboTax Online or Desktop, please follow these steps:

Once you are in your tax return, click on the “Federal Taxes” tab ("Personal" tab in TurboTax Home & Business)
Next click on “Wages and Income” ("Personal Income" in TurboTax Home & Business)
Next click on "jump to full list" or “I’ll choose what I work on”
Scroll down the screen until to come to the section “Retirement Plans and Social Security”
Choose "show more", then IRA, 401(k),Pension Plans (1099-R) and follow the onscreen instructions

Please note that all distributions will be reported on your tax return (whether or not they are taxable) on Form 1040 on line 15(a) (or 16(a) but only the taxable portion will show on your return as taxable on line 15(b) (or 16(b)).

To preview 1040 in TurboTax Online:

Sign into https://myturbotax.intuit.com/
Under Tax Timeline, click on Continue your return
Go to "My Account" > "Tools"
Under the Tools Center, select "view tax summary"
Select "Preview my 1040"

Re: 1099 R form. i didn't cash it out but i still received the form as i had left the company and they sent the 401k to another bank. do i still file the form?

Carl — Sat, 29 Jun 2019 15:19:12 GMT

Yes. You are required to report the 1099-R on your taxes. The IRS already has a copy of it, and if you don't report it you can expect a nasty-gram from the IRS. Enter the 1099-R *EXACTLY* as printed. Then I can not stress enough how *IMPORTANT* it is that you pay close attention to detail on the screens that will follow so that if you rolled it, you're not taxed and/or penalized on it.

topic 1099 R form. i didn't cash it out but i still received the form as i had left the company and they sent the 401k to another bank. do i still file the form? in Retirement tax questions

1099 R form. i didn't cash it out but i still received the form as i had left the company and they sent the 401k to another bank. do i still file the form?

Yes you will need to report this 1099-MISC on your tax re...

Re: 1099 R form. i didn't cash it out but i still received the form as i had left the company and they sent the 401k to another bank. do i still file the form?