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halvornj1
New Member

Under retirement deductions on the SC1040 line "p-1" does a RDM withdrawal from a qualifiled 401 plan Qualify as a "Qualified withdrawal" on line P-1?

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This info was taken from the SC 1040 Instructions 2016 rev 11/3/2016:

An individual who is age 65 or older during the tax year may

claim a retirement deduction up to $10,000 of qualified retirement

income from his or her own plan.

On line p-1, include only qualified withdrawals from the

taxpayer’s own qualified retirement plan. On line p-2, include

only qualified withdrawals from the spouse’s own qualified

retirement plan.

"QUALIFIED RETIREMENT INCOME" is income from plans

defined in I.R.C. 401, 403, 408 and 457, and all public employee

retirement plans of the federal, state and local governments,

including individual retirement plans, Keogh plans, and military

retirement.


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2 Replies

Under retirement deductions on the SC1040 line "p-1" does a RDM withdrawal from a qualifiled 401 plan Qualify as a "Qualified withdrawal" on line P-1?

Yes ... you even posted the regs that say so. 

halvornj1
New Member

Under retirement deductions on the SC1040 line "p-1" does a RDM withdrawal from a qualifiled 401 plan Qualify as a "Qualified withdrawal" on line P-1?

Thank you so much. Just wanted to make sure that I interpreted the Regulation properly prior to submitting. (I am just old and really don't understand things as well as I used to. 🙂 )

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