Hello! I'm from Seattle, Washington.
I lost my job in October last year and I had a 401k plan there. Right after I lost my job, I went on a family vacation for 3 weeks and I've been looking for a job since I got back. In any case, I received a letter from the company stating that my 401k had been rolled over into an IRA. I'm assuming that was done because I have yet to find another job to transfer the 401k.
I have no problem with that except how do I file this on my taxes? I have my W-2 from my former employer and it shows "Less 401(k) (D-Box 12)" and gives an amount under "Wages, Tips, other Compensation Box 1 of W-2". Do I use this amount in the Adjusted Gross calculator when it asks me to enter the IRA amount? Or do I not do anything with the IRA?
Can anybody give me some advice? If my question is too confusing, I am more than happy to provide any more information on my issue.
Thanks in advance!
~issha
I lost my job in October last year and I had a 401k plan there. Right after I lost my job, I went on a family vacation for 3 weeks and I've been looking for a job since I got back. In any case, I received a letter from the company stating that my 401k had been rolled over into an IRA. I'm assuming that was done because I have yet to find another job to transfer the 401k.
I have no problem with that except how do I file this on my taxes? I have my W-2 from my former employer and it shows "Less 401(k) (D-Box 12)" and gives an amount under "Wages, Tips, other Compensation Box 1 of W-2". Do I use this amount in the Adjusted Gross calculator when it asks me to enter the IRA amount? Or do I not do anything with the IRA?
Can anybody give me some advice? If my question is too confusing, I am more than happy to provide any more information on my issue.
Thanks in advance!
~issha