- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Any distribution from a retirement plan will result in a 1099-R form being issued, when the tax forms are sent out every January. That's why I was talking about a 1099-R form.
Certainly, your withdrawal of those funds from your 457b may have resulted in the administrator sending you some type of withdrawal summary when the withdrawal happened........ BUT, the 1099-R form itself (not some earlier summary) will be the official form you will need to enter into the tax software after you receive it. The $$, numbers, and various checkboxes marked on that 1099-R form will need to be entered into the corresponding specifically numbered boxes on the software's 1099-R form.
Some administrators send out paper forms in the mail, but those folks who have signed up for a paperless option, have to log into their account to download those 1099-R forms. I get three different 1099-R forms each year. Two are paperless that I log into my accounts to download each year, and one will only mail out the 1099-R that I get from that provider.
_____________________
But, like I said, the 1099-R form entry area isn't ready yet, so I don't know how you could enter that data if you are using the "Online" software or phone App. Do Not enter your 457b withholding in any area except on the actual software's 1099-R form entry area, once that section is up and running.