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Retirement tax questions
Yes, mark the box in the screenshot below. How you answer each question in the subsequent screens determines what screens are offered. What is the code in Box 7. Is there an amount in Box 2a? Please see this LINK for more information.
Qualified public safety employees
Effective for distributions after December 31, 2015, the exception for public safety employees who are age 50 or over is expanded to include specified federal law enforcement officers, customs and border protection officers, federal firefighters and air traffic controllers. Also, the restriction that only defined benefit plans qualify for the exemption is eliminated. Thus, an exemption is allowed for distributions from defined contribution plans or other types of governmental plans, such as the TSP. See IRC Section 72(t)(10), as amended by the Defending Public Safety Employees’ Retirement Act, P.L. 114-26.
April 13, 2022
6:51 AM