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You have nothing to worry about concerning your old 401k until you start taking distributions. Once you start taking any type of distribution from a 401k, you will receive a 1099R for these withdrawals. You may want to speak to a financial advisor about rolling your old 401k into another retirement account.
Your new employer W-2 will show the amount of contributions to your new 401k in Box 12D. As the 401k contribution is a pre-tax event, there is no deduction allowed like an IRA. However, your contributions to lower your taxable income that you input from Box 1.
You have nothing to worry about concerning your old 401k until you start taking distributions. Once you start taking any type of distribution from a 401k, you will receive a 1099R for these withdrawals. You may want to speak to a financial advisor about rolling your old 401k into another retirement account.
Your new employer W-2 will show the amount of contributions to your new 401k in Box 12D. As the 401k contribution is a pre-tax event, there is no deduction allowed like an IRA. However, your contributions to lower your taxable income that you input from Box 1.
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