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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
Is this a retirement plan?
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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
<a rel="nofollow" target="_blank" href="https://mccc-union.org/obra-defined-contribution-retirement-plan/">https://mccc-union.org/obra-defin...>
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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
Yes and it was mandatory for part-time employees. I worked for the county for a little over a year (resigned in Jan 2019).
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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
Yes you will get a 1099R for it, probably in January. It will be taxable.
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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
Thank you
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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
You can probably put it in and roll it over to a Traditional IRA Account, you have 60 days. Then it won't be taxed now until you take it out. If you do roll it over, try to replace the tax withholding with your own money so you roll over the full amount or some of it will be taxed. Ask your bank.
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I just received a check from the county OBRA Plan and federal was deducted. Will I need to report this income on my 2019 taxes?
Answered in comments.