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Retirement tax questions
If he reached minimum retirement plan in 2022, he is over the minimum retirement age in 2023 and the answer to provide 2023 TurboTax is No, he was not under the minimum retirement age at any time in 2023. (The plan should probably have changed the code to code 7 instead of code 3 since they should know he is no longer under the MRA.)
TurboTax asks the question because disability distributions received before minimum retirement age are to be treated as wages. Disability distributions received after minimum retirement age are to be treated as ordinary retirement income.
‎January 19, 2024
7:11 AM