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New Member
posted Jun 6, 2019 7:13:50 AM

Does a pension plan cashout in 2016 count as a retirement plan distribution? It asked from anything from 2014 on the credits section for contributing to one.

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2 Replies
Level 8
Jun 6, 2019 7:13:52 AM

Yes. The payout from a pension plan is a retirement distribution. You should receive Form 1099-R from the pension plan administrator by first week in February.

Level 15
Jun 6, 2019 7:13:53 AM

Yes, a pension cash out would count as a retirement plan distribution.

You are in the saver's credit area and there are rules against taking the credit when you had prior distributions.