On TT 2021 under Personal>Personal Income, there is a question for a 1099-R about what I did with a pension distribution that went directly into a bank account. The choices don't exactly match my situation. Can you help me in answering it?
TT Question: "What did you do with the money from the [qualified plan name] distribution?"
My actual situation: I left it in the bank it was deposited into and did not spend any of it.
TT Choices:
- moved the money to another retirement account (or returned it to the same retirement account)
- did something else with it (cashed it out, etc)
Since I didn't cash it out, I answered with the first choice, which feels off because I never returned it to the same account (as I never took it out so I would not have needed to return it).
Then when I selected the first choice above, the next choices presented are a decision between:
- rolled over to an IRA or other retirement account or returned it to the same account
- did a combination of rolling over, converting, or cashing out the money.
>> here I selected the first choice because the second choice was not applicable.
Need help - So - given I did nothing with the distribution (just left it in the bank), would my choices be the correct choices? I'm somewhat thrown by the use of "returned it to the same retirement account"
