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Why does the 1099r section ask what I did did with Retirement $$, whether I moved it to another acct or cashed it out? I do have it deposited directly. This new 2 me.

It is confusing and unclear to me why the question is asked, what happens to my Retirement money or what I do with it after it is deposited in my bank account directly.

2 Replies
KatrinaB
Intuit Alumni

Why does the 1099r section ask what I did did with Retirement $$, whether I moved it to another acct or cashed it out? I do have it deposited directly. This new 2 me.

This question is asked to determine whether or not you withdrew the money and used it or you rolled it over into another retirement account.

Why does the 1099r section ask what I did did with Retirement $$, whether I moved it to another acct or cashed it out? I do have it deposited directly. This new 2 me.

Maybe I was not clear about my question. This is a regular pension retirement payment I receive from a retirement plan I participated in. So this is a new question in TT that doesn't seem to make sense if one receives a retirement pension for the sake of retirement income, I would think the intent to use it is implied. So I do not "roll over " the funds. I just use it for expenses.
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