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Retirement tax questions
Hi,
I retired from a local government in Dec 2020. I had my 457 retirement money all rollover to Charles Schwab from VOYA who was the custody of my 457 account. Today, I received my 1099-R from Voya and Box 1 Gross Distribution with all the amount that was rolled. And Box 5 Employee contribution/..... which is about $131,000 less than Box 1. I don't see anywhere saying that the money was rolled instead. The form looks like I cash out all the money and I would have to pay lots of taxes for them. Does anyone agreed to the form that I was issued? Do I expect another tax form from Charles Schwab saying that the distribution was rolled not cashed out? Thanks
‎January 25, 2022
12:47 PM