I am a police officers in dallas texas my pension was changed by the texas house and if I wanted to get back into my pension I had to repay 45,344.00. I took the money out of my 401k and put it into the dallas police and fire pension. do I have to claim that 45344,00 as income.
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No. So long as it was either a direct roll-over also called a trustee-to-trustee rollover or if you receive the distribution and you deposit it in an approved retirement plan within 60 calendar days of withdrawal. The following TurboTax FAQ explains in more detail. https://ttlc.intuit.com/replies/3880707
No. So long as it was either a direct roll-over also called a trustee-to-trustee rollover or if you receive the distribution and you deposit it in an approved retirement plan within 60 calendar days of withdrawal. The following TurboTax FAQ explains in more detail. https://ttlc.intuit.com/replies/3880707
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