cholleran60
New Member

Does the Q on 1099-R about what did I do with the money from pension, apply to me as the spouse of disabled RR employee? Is 'did something else with it', correct?

 
MichaelMc
New Member

Retirement tax questions

This is a critical question and will have significant impact on your income tax.

The intent behind the question is to determine whether some or all of a distribution was rolled over to another tax-deferred qualified plan, in which case the transaction is tax-free, or was used for another purpose, in which case the amount of the distribution will be taxed as ordinary income and may, in some cases, also be subject to the 10% penalty tax on early distributions.

fanfare
Level 15

Retirement tax questions

"did something else" refers to rolling over to a different or back to the same tax - deferred account.

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