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.
02343
2 Replies
ghost
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.
MichaelL1
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.