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Business & farm
No, you do not need to file this as income because it is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan. It is not a taxable document thus doesn't need to be reported.
If you take distributions or cash out the plan, you will be issued a 1099-R, which is a taxable document.
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ā€ˇFebruary 18, 2021
6:22 PM