You'll need to sign in or create an account to connect with an expert.
You cashed it out. This distribution is not eligible for rollover.
Same here but CSRS annuity. I think that having to answer cash out is not calculating taxes correctly ...I'm paying taxes and usually receive refund. These accounts are Annuities from pensions not cash out. Can someone from TurboTax explain? This wording has changed in the program this year.
If you made no after-tax payments into to the CSRS annuity, the entire amount distributed is includible in the income (Form 1040 line 5b) on which your tax liability is calculated. Whatever amount was withheld for taxes is credited later on Form 1040 toward your overall tax liability.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ronjrsm32
Returning Member
DLK59
Returning Member
asterof
Returning Member
joabrady
Level 2
pg1917
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.