Here's the chain of events, not all of which I was aware of before this week:
- In 2010, I started working for a company and diverting money into a 401k
- In 2012, the company was purchased, and I elected to rollover my old 401k into the new company's 401k
- They accomplished this by sending me a check (made out to "Trustee of the <company 401k plan> FBO <my name>") which I was supposed to forward.
- Because I'm a child, I completely forgot to do this
- In 2014, I got a mailing from the 401k plan's abandoned property department asking if I wanted to claim the funds (since the check was never cashed)
- I claimed the funds, they sent me a check, and I cashed it (it's currently sitting in my savings account, as I was going to use it to move this year)
- This spring, I never received a 1099 to claim it on my 2014 taxes
- I contacted the 401k plan, and they told me they sent me a 1099 in 2012 since that's when they legally did the rollover. They emailed me a copy of that original 1099, which specifies a taxable amount of $0 since it was a rollover.
- Did I do anything wrong by cashing a check made out to "trustee of <401k plan> FBO <my name>", and if so how can I fix it? I thought I was just getting a termination payout of the balance.
- How do I handle the taxes I owe on the payout, given that I had a tax-free 1099 two years ago and no 1099 now?