Forgot to report 401k contribution? From 1099-R

[bohueilin]

Dear Community,

Basic noob question, I noticed i did not include my prior year's 1099-R form, the 2a Taxable amount shows $0 and Distribution Code is G (rollover).  The "IRA/SEP/SIMPLE" box is NOT checked.

Explanation:

Distribution code G on your 1099-R indicates that your WRS benefit was rolled over to another qualified plan

I try to enter them in Turbotax and still does not reflect any tax changes (not due nor refund)

Question:

Given it was 2 years ago, does it make sense to amend everything, including tax 2020, tax 2021?

Thanks

[RBBrittain]

If you have 1099-Rs for those prior years, you should amend your returns for those years to include them (unless the IRS did it for you in a notice, and even then you may have to file to get the full benefits). Technically your distributions are income, though it appears from what you said that these were direct rollovers with no net change in income or taxes.

[bohueilin]

Correct @RBBrittain 

The form stated G, which indicates it was a direct rollover from one qualified plan or account to another which makes it wholly nontaxable. 

I verified with Turbotax amend and verified nothing changed too, there is really no benefit of doing it and will require me to do many amends per year (Fed + States) * years

Whats the benefit part?

[bohueilin]

...will IRS every ask me to amend my tax if there is no tax obligation, etc?

Thanks

[fanfare]

what state?

 your state return should not be impacted

as you already know your federal return is not impacted either.

there is no reason to amend. no dollar amounts are changing.

@bohueilin 

[bohueilin]

@fanfare 

State:CA

Correct, no tax implication changes, no due nor refund

Thanks

[LindaS5247]

If there is no change to your income/tax due you do not need to file an amended return.

Click here for "Should I file an amended return? From the IRS.  Then lick "Begin" at the bottom of the page.  It will ask you specifics and recommend whether to amend your tax return or not.

Click here for information regarding when to amend your tax return.