If you’ve taken money out of your 401(k) or rolled it over this year, you’ll likely receive IRS Form 1099-R. This essential tax document reports distributions from retirement accounts and plays a major role in your tax return. In this guide, we’ll walk you through everything you need to know about 401(k) tax forms—from understanding Box 1 to correctly reporting your distribution on your tax return. We also explain when penalties apply, what exceptions exist, and how to reduce your taxable income. Whether you’ve retired, switched jobs, or made an early withdrawal, this article helps ensure your taxes are filed accurately and on time. Learn how to avoid surprises come tax season by staying informed about the forms you’ll receive and how to interpret them. Get ahead of the IRS with this easy-to-follow, comprehensive breakdown of 401(k) reporting.

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By: hugohervefr

17-Jun-2025 10:37 am

Business & Services