Is my 1099r a qualified or nonqualified plan

Forum|Forum|7 years ago
June 6, 2019
1 reply
0 views

I am newly retired from federal employment...is my annuity payment qulified or unqualified...help

TurboTax Deluxe Online

MargaretL

Level 12

Your plan is a qualified plan.

Per IRS: "The CSFS, FERS and TSP are considered qualified retirement plans." - pub 721, page 15

Also, Qualified plans include:

401(k)s
403(b)s (also known as tax-sheltered annuity plans)
457 plans for government employees
Traditional IRAs
Roth IRAs
SEP and SIMPLE plans for employees of small businesses
Pension plans
Profit-sharing plans
Stock bonus plans

Non-qualified plans include:

Life insurance policies (if distribution is full payment)
Private or purchased commercial annuities
Military retirement plans

maps4you

Level 4

Also Qualified... A corporate Annuity purchased with funds from a 401K plan

dmertz

Level 15

An annuity purchase with funds from a 401(k) plan is a qualified annuity only if it is purchased within the 401(k) or is purchased as an IRA annuity with a rollover from the 401(k). If an annuity is purchased with funds from a 401(k) that were, say, an RMD from the 401(k) and therefore not eligible for rollover, the annuity would be a nonqualified annuity.