Rollover 1040 omission

[SumDay]

We moved DH's 401(k) to an IRA at Vanguard last summer. Yes, I got a 1099-R, no I didn't report it on our 1040 since ZERO was taxable and I made a very incorrect ASSumption that it didn't need to be reported.

Should I file an amended return? Or just pack for jail?

 

[GrayHare]

Amend.

 

[meierlde]

It is not clear that the IRS will bother since the taxable amount was zero, and they do get rated on the amount of money they produce per hour of work. The most that might happen is you might get a letter asking about it.

 

[jebmke]

Amend

Amended returns are easy; usually easier than the original return. I do a dozen or so per year.

 

[SumDay]

To close the circle: I called the IRS yesterday, and they said "you can file an amended return if you want to. There's no penalty..."


The amended return is printed, awaiting our signatures and a stamp. Thanks all.