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-   -   401 K Cash Out (https://www.askmehelpdesk.com/showthread.php?t=59514)

  • Feb 2, 2007, 09:46 AM
    Artmarr112245
    401 K Cash Out
    I quit my job in November of 2005. I took 72000.00 out of my 401K and rolled it over into a Schwab investment account. I now have received a 1099 with the distribution marked as "G" Do I have to pay income tax on this money?
  • Feb 2, 2007, 10:14 PM
    AtlantaTaxExpert
    No. The Code G means Direct Rollover and Rollover Contribution.

    Rollovers do not generate tax liability.

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