How do I report 1099-R income related to 401k rec’d in 2007 and reported in 2006 Taxes?

Posted by Dolores
tooty1117 asked:


I received distribution of a portion of my 2006 401k contributions in early 2007 because of failure of 401k plan for high income earners. I reported this on my 2006 taxes. I received a 1099R in 2008 for 2007. How do I report this since I’ve already included it in 2006 taxes?

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This entry was posted on Monday, October 12th, 2009 at 8:47 am and is filed under United States. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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One Response to “How do I report 1099-R income related to 401k rec’d in 2007 and reported in 2006 Taxes?”

  1. digdowndeepnseattle Says:
    October 12th, 2009 at 5:15 pm

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    Since you reported it in 2006 you’re done. It should have a code P on the 1099-R. This tells the IRS that it was a prior period payment and they should go back to the prior year to ensure that it was added to income.