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Retirement tax questions
@GreenDot954 - look at form 1099-R and specifically Box 1a and 2.
Box 1a is the gross amount you received; Box 2 is the part that is taxable.
As you stated, you don't pay tax on the money you originally contributed, which is after tax monies. That is represented by the difference of Box 1a minus Box 2.
<<But, if the pension is solely funded by the employer then the pension is 100% non-taxable.>
It's the other way around..... if the pension is solely funded by the employer, then the pension is 100% TAXABLE - you never paid tax on that money!
4 weeks ago