If you’ve withdrawn funds or rolled over your 401(k) this year, you’ll likely receive IRS Form 1099-R. This form reports distributions from retirement accounts and is an important part of your tax return. This guide will help you: Understand what each section of Form 1099-R means, especially Box 1 Learn how to report distributions accurately on your tax return Know when penalties may apply and what exceptions are available Explore ways to reduce your taxable income Whether you’ve retired, changed jobs, or made an early withdrawal, this guide will help you navigate your 401(k) tax reporting confidently and avoid surprises at tax time.