rjs
Level 15
Level 15

Retirement tax questions

For such small amounts, it hardly seems worth the trouble of going through the lump-sum calculations. Even if you had the lump sum amounts for each earlier year, you would need a copy of your tax return for each year that's involved.


The "lump-sum election" is optional. It doesn't always save you any money. Unless your income in the earlier years was significantly less than your 2022 income, it might save you very little, or possibly nothing at all. So the simplest thing for you to do is to just tell TurboTax that you did not receive any lump-sum payments. That's what I would suggest doing.

 

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