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I received a 1099-R ($16445.67) from a defined benefit pension plan and rolled it into a Govt TSP plan, although the rollover was not received by TSP until Jan. 2017.

What (if any) are my tax implications?
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I received a 1099-R ($16445.67) from a defined benefit pension plan and rolled it into a Govt TSP plan, although the rollover was not received by TSP until Jan. 2017.

As long as the roll-over took place within the 60 days it will be non-taxable to you, as long it went from the Traditional (non-Roth) to the Traditional (non-Roth) TSP.  And yes, it is shown on the 2016 return. 

You will still have to account for it on the tax return.

 To enter pension and annuity Payments (1099-R)

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement Plans and Social Security
  • On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

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2 Replies

I received a 1099-R ($16445.67) from a defined benefit pension plan and rolled it into a Govt TSP plan, although the rollover was not received by TSP until Jan. 2017.

As long as the roll-over took place within the 60 days it will be non-taxable to you, as long it went from the Traditional (non-Roth) to the Traditional (non-Roth) TSP.  And yes, it is shown on the 2016 return. 

You will still have to account for it on the tax return.

 To enter pension and annuity Payments (1099-R)

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Scroll down to Retirement Plans and Social Security
  • On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

I received a 1099-R ($16445.67) from a defined benefit pension plan and rolled it into a Govt TSP plan, although the rollover was not received by TSP until Jan. 2017.

Thank you for clarifying!
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