401K Rollover

[rmf2184]

Hello,

If you rollover a 401K from one provider e.g., Vanguard to another e.g., Fidelity and have not ever/did not at that point make any withdrawals, what paperwork do you need to upload to your taxes, if any?

Thank you!

[CatherineR]

You should receive a 1099R form from the distributing financial institution and there should be a code G in box 7 indicating a qualified rollover.  The rollover amount should be included in your total income on your tax return but will show as non taxable income.  

Here are the steps to show it in Turbo Tax:

1. Federal Taxes
2. Wages and Income
3. Scroll down to Retirement Plans and Social Security
4. Select IRA, 401(k), Pension Plans (1099-R)
5. Make sure to enter box 7 code as presented on the 1099 R form.  If other than a code G, please follow up with the issuing institution for correction.