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Retirement tax questions
What you describe is a non-taxable pension plan distribution that appears on line 5(a) on your form 1040. The taxable amount does not show on line 5(b) so it doesn't affect your income tax. It is possible to have a distribution from a pension plan that would not be taxable even if you didn't roll the funds over to another plan. In that case, the distribution would count as income for marketplace purposes I would think. Since you did a rollover, you should see "rollover" on your form 1040 by line 5, and that should tip the marketplace off to the fact that the distribution is not income in your situation. I suggest you call the marketplace and explain what happened to see if they can offer a remedy.
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‎February 21, 2024
10:43 AM