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Retirement tax questions
Thank you very much. I figured that to be true. Two parts to follow up response:
• Tax law: Yes I agree, and I think my spouse might be in the "at least one contribution" during 2023 category. My situation is not so clear: I retired at the end of 2022, started getting payments from City retirement system in 2023, and continued working half time not enrolled in the City retirement system. The only possible "contribution" to what could be called a "retirement system" in 2023 was a small amount of vacation time to a deferred compensation plan in early 2024 from 2023 (and even that was misdirected and is still not in the DefComp account). I cannot find info on deferred comp plan status (haven't tried hard). Do you know code section numbers?
• Tax software: When I turn off "covered by retirement plan" on W-2 form, setting does NOT carry forward to let me use IRA contribution worksheet to see impact on tax due. Not letting me do that, or telling me how to override worksheet so I can do that, is a serious flaw in the software (IMHO).