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Is a 1099-R the correct form to receive from a payer for distributions from a 457(b) plan?
I know distributions from a deferred compensation plan are taxed as regular income, but on my tax prep it appears these distributions are being exempted. The distribution code in box 7 on the 1099-R I received from the payer is "7", which I believe is incorrect for this distribution.
Should I have received a W2 from this payer? I have had this deferred compensation plan for over 20 years.
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‎June 4, 2019
12:27 PM