Early 2023 I withdrew all the money from my 401K after I left my job. I basically spent the money on taking care of me and my kids. I’m filing my taxes this year and I received two 1099-R forms. One has the total distribution box checked, distribution code 1 but the doesn’t have the total distribution box checked and the distribution code is M1. So which form do I actually file or do I need to file both?
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To clarify, were there two entries made in Box 7, one being a code 1 and the other a code M? There is no such thing as a code M1 in Box 7.
Well I guess there’s two entries. It says distribution code(s) M1. It has them so close together I thought it was one entry.
To clarify on the second form, it has in box 7, distribution code(s) M1
If you actually got 2 1099R forms you need to enter them both. Then the M1 is two separate codes on that one. There are 2 spots for the code.
When I tried to enter in both it’s adding both amounts together as the income. Is that even accurate?
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