RobertB4444
Employee Tax Expert

Retirement tax questions

@bkenn20878  Catch Up contributions - in this terminology anyway - refer to catching up for past events in the present.  So, to start with, your advisors are correct about the catch up contributions being only entered in the current year that you are working on.

 

As far as your qualified plan offset contributions you should receive a 1099-R for the amount of the offset.  You enter it into TurboTax as a taxable distribution with code '2M' in box 7 and then you will receive several options for how that income will be treated.  You will tell the program that the distribution was a qualified plan offset and it will be removed from taxable income.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"