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jm6231
Returning Member

1099R

I took a cash distribution from one of my 401K's and received direct deposit into my bank account on May 11, 2021.  I was thinking I could claim this as income on my 2020 return since I have not filed yet.  I will not receive a 1099R until next January.  Is there any way I can claim this as income on my 2020 return?  

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1 Reply

1099R

The 401(k) distribution made in 2021 can only be reported on your 2021 tax return filed next year.

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