DaveF1006
Expert Alumni

Retirement tax questions

It depends. Is it a 1099R CSA, CSR, or regular 1099R? Also was this an early distribution because of COVID or a retirement distribution? Usually if a standard 1099R, the taxable amount is usually the same as the distribution unless certain conditions apply. Also, if it an early distribution, there may be a 10% early withdrawal penalty. 

 

In answer to your question, many factors can determine the taxability of this pension distribution.

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