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Level 2
posted Feb 27, 2021 9:02:47 AM

Do I need to report Substitute form 1099-R?

I changed job in late 2020 and rolled over my 401K plan money from previous employer into the new 401K plan offered by my new employer.

 

I received a "2020 Form 1099-R  (OMB No. 1545-0119)". Do I need to report it? Or is it just  record for me to keep?

 

Even if it was a Non-taxable, but it is counted toward my total income ..........does it affect/lower the amount of  federal refund I should get??

 

And, my box 9a is 0% but turbo tax software does not let me type "0". Will it be fixed?

0 3 497
3 Replies
Expert Alumni
Mar 3, 2021 11:18:10 AM

Ye, you must include it. If you take the money in hand and then roll it over, the IRS has no way of knowing that you did this unless you tell them.

 

Look for this screen for the rollover.

 

Level 2
Mar 4, 2021 6:06:13 AM

Thank you very much, Coleen.

 

Hum.......... my screen does not have those questions, maybe it is because of the versions? I use the Deluxe version.

 

But thank you for the answer, I will report that 1099-R.

Expert Alumni
Mar 9, 2021 9:11:37 AM

No, the version would have nothing to do with it. If you are able to enter the 1099-R, you should have every related option available to you. This is another possible screen for rollovers.