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Returning Member
posted Mar 1, 2021 2:59:03 PM

401k distribution shows as pension distribution of form 1040

Received a distribution for a 401k (Code G) direct rollover. However, on the 1040 form, the amount is reflected online 5a 'Pensions and Annuities", not 4a 'IRA Distributions." Don't know how to correct this. Any suggestions?

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1 Best answer
Level 15
Mar 1, 2021 3:02:51 PM

A 401(k) rollover should be shown as a distribution in 5a with the word ROLLOVER.  A 401(k) is Not an IRA.

4 Replies
Level 15
Mar 1, 2021 3:02:51 PM

A 401(k) rollover should be shown as a distribution in 5a with the word ROLLOVER.  A 401(k) is Not an IRA.

Returning Member
Mar 1, 2021 3:16:28 PM

Yes, it does say rollover, sorry for not indicating. So it is reported in the correct spot?

Level 15
Mar 1, 2021 3:17:14 PM

@mgoodman1 wrote:

Yes, it does say rollover, sorry for not indicating. So it is reported in the correct spot?

Yes, it is on the correct line of the Form 1040.

Returning Member
Mar 1, 2021 3:19:33 PM

cool. thank you very much