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February 24, 2025
Question

DO I NEED TO LIST A 401K ROLLOVER (INTO ANOTHER 401K) UNDER "IRA, 401(k), Pension Plan Withdrawals"?

  • February 24, 2025
  • 1 reply
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I WENT THROUGH THE AUTOMATED NOTION OF INPUTTING MY 1099-R. IT'S ROLLED OVER INTO ANOTHER 401K. I'M CONFUSED WHY IT'S REFLECTED AS "IRA, 401(k), Pension Plan Withdrawals". Is this being counted as recognized income?

    1 reply

    February 24, 2025

    A rollover from a 401(k) account to another 401(k) is not taxable but you have to report the form 1099-R on your tax return.

     

     

    In TurboTax Online, enter your form 1099-R by following these steps:

    1. Open your tax return
    2. Click on Federal in the left-hand column, then on Wages & Income
    3. Navigate to the list of income categories
    4. Locate the section Retirement Plans and Social Security and click on the arrow on the right
    5. Click Start next to IRAs, 401(k), Pension Plan Withdrawals (1099-R).
    6. Enter your form 1099-R and follow the interview
    7. When you arrive to the page Tell us if you moved the money through a rollover or conversion, click on the radio button I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
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