I have a (hopefully quick) tax question. My husband changed jobs last year, and never got around to doing a rollover on his profit sharing/ retirement, so we got a disbursement check. I’m not sure how to report this; there wasn’t a “form” (like a 1099 or some such thing). The check is for less than $500, and we haven’t cashed it yet, because I know there are tax penalties. I’d like to put it into his new company’s retirement account, but I’m not sure how to go about it. Any advice would be appreciated. We use TaxAct to do our taxes.
The answer depends on what the “profit sharing/retirement” actually is. If I were you, I’d call HR at his last job and see what they say about your question.
aLSO ASK AT THE NEW JOB