Question

Decided NOT to rollover 401k, 1099 states no taxable income?

Forum|Forum|6 years ago
February 20, 2020
1 reply
0 views

In the event that my 401k was actually not rolled over, do I need to request a new 1099 or can I change what I enter to reflect what actually happened, i.e. change box 2A to equal box 1 and change box 7 Code G to code A?

TurboTax Deluxe Online

M

MinhT1

If you decide not to rollover, do not change anything on your form 1099-R (The IRS has a copy!).

After you have entered your form 1099-R, continue with the interview and to the question What did you do with the money, answer that you did something else with the money. TurboTax will then tax the distribution and if applicable, calculate the early withdrawal penalty.

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Z

ZarethDAuthor

Okay, I tried that and noticed my refund didn't go down at all..
Not until I changed box 7 and taxable amount did refund go down - I deleted it and will start over but I just won't want it to come back to bite me later..