ThomasM125
Expert Alumni

Retirement tax questions

When you report the amount in box 2(a), it is going to be reported as taxable income. Then, you are asked to enter your non-deducted retirement fund balance at the end of the previous year and same for the current year. That calculation is normally used to determine the taxable amount of the distribution. It is not normally reported in the box 2(a), so you need to change one of the end of year balance numbers to make the calculation work right.

 

So, try adding the amount in box 2(a) to your end of year non-deducted pension fund balance at the end of the previous year.

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