Reporting 401 K withdrawal after retirement

Chicago2023 · ‎April 14, 2023

I have retired for 2 years and left my 401 K with one of my previous employers. I recently withdraw money from that fund and then later took it all out and transferred to another financial institution as Traditional IRA. Where in 540 EZ will I report the amount I withdrew? I am qualified to use 540EZ. How about in 1040SR? Report under taxable pension? Thank you.

LindaS5247 · ‎April 14, 2023

You should have received a Form 1099-R for this withdrawal and when you entered that Form 1099-R into TurboTax it will enter it in the correct place. Make sure to answer all of the follow-up prompts. This information will also flow through to your CA State Tax Return.

Click here for where to enter your Form 1099-R.

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