GeorgeM777
Expert Alumni

Retirement tax questions

You are correct in that Employee Stock Ownership Plans are not the same as Employee Stock Purchase Plans.  ESOPs are generally tax advantaged retirement plans that allow employees to acquire shares in their company based on years of service, and perhaps other factors too.   Employees usually don't pay taxes on contributions, but there may be tax implications when amounts from such plans are distributed.  

 

Did you take a distribution from your ESOP?  If so, and without providing any personally identifiable information, could you tell us how much and whether you contributed any of your own funds to the ESOP.  Any additional information you could provide about the characteristics of your ESOP would help us better understand your tax situation. 

 

@jaems1964 

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