granitehead
Returning Member

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.