jetsetter8
Returning Member

Retirement tax questions

But if I don't tell the IRS that I rolled the legal settlement check into a retirement account, they're going to consider the entire amount as income which will be taxed (a LOT of money, at least to me), plus I'll end up paying penalties for not paying estimated taxes on this check, plus, a 10% penalty for using retirement funds before age 59 1/2, won't I?