A cash balance pension plan is a pension plan with the option of a lifetime annuity. For a cash balance plan, the employer credits a participant's account with a set percentage of their yearly compensation plus interest charges. A cash balance pension plan is a defined-benefit plan.
1. Login and click Take me to my return
2. On the left menu, under 2019 Taxes, select the Federal
3. Select the Income & Expenses tab along the top. To get to the full listing of Income and Expenses you may be asked to, "select options that apply to you," click Continue and then Check for more tax breaks, then See list of all tax breaks
4. Scroll down to the Other Business Situations section and click the blue hyperlink Show more
5. Click Start/Revisit next to Self-Employed Retirement Plans
6. Next, answer the questions to enter your retirement.
Please feel free to post any additional details or questions in the comment section.
