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Asked 2/1/2009
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Switched 401k After changing jobs I rolled over my 401k to my new company. My old company sent a 1099-R for the amount I rolled over. Since I did not recieve any money do I have to pay taxes on this money. If not do I need to prove I rolled my money over and note it somewhere on a tax form. |
Answer 1/2 - Submitted 2/1/2009
Answer 2/2 - Submitted 2/1/2009
If it is a direct rollover as described, You should get a 1099 R with code G in box 7. You will need to report the income from box 1 of the 1099 R on your 1040 line 15a. You should also write the word "rollover" beside the amount on 15a. None of the rollover is included on line 15b & added with your ordinary income.
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