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awlenztt
New Member

How should pension distributions from the PBGC be classified?

Just answer my question.
2 Replies
pattif12
Expert Alumni

How should pension distributions from the PBGC be classified?

According to the Pension Benefit Guaranty Corporation website, they will be sending a 1099-R to you with instructions to assist you with your taxes. If you have not received one by today, you can retrieve the 1099-R form through MyPBA. 

 

See this page for more information PBGC.

SteamTrain
Level 15

How should pension distributions from the PBGC be classified?

Not sure what you mean really by "Classified".....What are you looking at in the software?

 

Just wild Guessing as to exactly what you are looking at....PBGC implies it is a qualified plan. but is a bit wishy-washy.

_______________________

"Is my pension plan a tax-qualified plan under IRS rules?

 

Most likely, yes. PBGC treats the pension plans it insures as qualified."

_____________________________________________

https://www.pbgc.gov/wr/transactions/irs-1099/irs-form-1099-r-frequently-asked-questions

*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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