Retirement tax questions


@brew717559 wrote:

Thanks so much. He is retired Army and almost 50 years old.  This is his military retirement that I was awarded half of in the divorce. 

1099-R. Yes

Code in box 7- 7


I'm going to ask for smarter help than me.

@dmertz 

 

If you are eligible to do a rollover, then you can take the cash value of your share, put it into your own IRA, and then wait to withdraw it until you are older or you need the money.  But I don't know the rules for military retirement.