Amend a tax return for a missing 1099-R with Code G

[sean39]

Hi TT experts,

I just found a 1099-R with distribution code G and box 2a = $0.00 in my solo-401k account for 2020. Obviously I forgot to include this 1099-R to my 2020 tax return although there would be no change to the amount of payment/refund if I had done so. Question is do I need to amend my 2020 return to include this information?

There is this thread https://ttlc.intuit.com/community/retirement/discussion/should-i-file-an-amended-return-if-i-receive... is saying no amend is needed. But other sites say otherwise.

I want to get another expert opinion on this to increase some confidence.

Thanks,

[MinhT1 · Accepted solution]

Code G in box 7 of form 1099-R denotes a direct rollover to a qualified plan or IRA. Unless the rollover is to a Roth IRA, it is not taxable.

You had to report the form 1099-R on your tax return. Not reporting it would not change your tax liability.

I would not file an amended return as this will not change my tax liability but will keep this form 1099-R in my tax records in case the IRS asks about it later. You could then explain that you omitted to report it but did not file an amended return because it did not change your tax liability.