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How to answer: "Did you take money out of your nonqualified pension plan?"
We're given two choices:
1. Yes, I took this money out of my nonqualified or Section 457 plan.
2. No, this is money I contributed to my nonqualified or Section 457 plan.
Very confusing... I did both. When I was working, I contributed to my deferred salary plan. Now that I'm retired I'm taking the money out. On my 2024 W2, all of my Box 1 income is also in Box 11.
How do I answer? My guess is "Yes", but not sure.
‎January 25, 2025
9:24 AM