How to Report the Rollover of a 401k to a Traditional IRA on a 1040
- 1). Write the total amount of the 401k plan distribution that you rolled over on line 16a of Form 1040.
- 2). Enter the amount of money from the distribution that you did not roll over on line 16b. Even if the amount is zero, you must still enter "$0" on line 16b.
- 3). Write "rollover" next to line 16b to signify to the IRS that you rolled the money over.
- 4). On line 61, include any money withheld by your financial institution for potential taxes as part of your federal income taxes. You can find the total amount withheld for federal income taxes on the Form 1099-R that you receive from your financial institution at the end of the year.
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