1099-R Form?

Question

I received a 1099-R form b/c I rolled over a balance from one 401K plan to another. Do I need to use this form some how for taxes?

Answer 1

Yes, it is for your income tax return. I am not a specialist so not sure where it fits in the whole tax scheme so best ask a tax return specialist.

Answer 2

A qualified roll over from a 401k is a reportable but not a taxable event. You will need to report the information on the 1099R on line 15A of your form 1040, but the taxable amount will be zero.

For more information look here - http://www.irs.gov/retirement/sponsor/article/0,,id=151926,00.html