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Retirement tax questions
The required minimum distribution (RMD) rules apply to profit sharing and defined contribution plans, 401(k), 403(b), and 457(b) plans, in addition to IRA plans. So, just because the plan was not an IRA does not mean the RMD rules don't affect it's taxability. You will need to answer the questions in TurboTax to determine the correct treatment of the distribution. Even if it is not an IRA, TurboTax needs to know if you moved it to another retirement account to determine it's taxability. For instance, you can move a 401(k) distribution to an IRA account to avoid taxation on it in certain circumstances.
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‎February 15, 2022
1:53 PM