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If I got a 1099-R, but the payer was an ESOP should I enter that info in Other to lower the tax I owe?

The money I received a 1099-R for was for an ESOP, on the page titled "these situations may lower your tax" it said to enter ESOP in under other in the "HELP" is this what I should do?
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If I got a 1099-R, but the payer was an ESOP should I enter that info in Other to lower the tax I owe?

No, it didn't say to "enter ESOP in under other."  It said

"Here are some of the ways you can lower your tax if you took money out of your retirement account early:"

and among the list is " - ESOP employer stock dividends"

Unless the distribution was an ESOP employer stock dividend or dividends - that is dividends paid by the stock in your ESOP account - this is not an exception you can use.

Tom Young


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If I got a 1099-R, but the payer was an ESOP should I enter that info in Other to lower the tax I owe?

No, it didn't say to "enter ESOP in under other."  It said

"Here are some of the ways you can lower your tax if you took money out of your retirement account early:"

and among the list is " - ESOP employer stock dividends"

Unless the distribution was an ESOP employer stock dividend or dividends - that is dividends paid by the stock in your ESOP account - this is not an exception you can use.

Tom Young


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