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On which line on Form 1040 do I report money I received from a 401k distribution.?
I have received an early distribution from a 401k when I left my job after it went out of business. On which line do I report this income on the Form 1040? This is a one time thing and I've never encountered this before.
1 Answer
- RichardLv 78 years agoFavorite Answer
I am assuming you did not roll over your monies into another retirement fund (like a Rollover IRA).
It goes in the "Pensions and Annuities" box. In the 2012 Form 1040, it was in line 16a.
When you get your 1099R for 2013 in early 2014, it will tell you which line the monies should be reported in the 2013 Form 1040.
If you did roll over your monies into another fund, it will be tax-free. In 2014 you will get instructions with your 1099R on how this is done. Generally, you show the distribution in line 16a, and then you will show that the taxable amount is $0.00 in line 16b.
Source(s): http://www.irs.gov/pub/irs-pdf/f1040.pdf
