Retirement tax questions

No.  Court ordered restitution for some for some sort of wrongdoing on your part is not deductible.   Enter your 1099R ---it will be taxable income; if you are younger than 59 1/2 you are also subject to the 10% early withdrawal penalty.

 

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

 

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**