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Why does the 1099r section ask what I did did with Retirement $$, whether I moved it to another acct or cashed it out? I do have it deposited directly. This new 2 me.
It is confusing and unclear to me why the question is asked, what happens to my Retirement money or what I do with it after it is deposited in my bank account directly.
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posted
June 1, 2019
4:08 PM
last updated
June 01, 2019
4:08 PM
2 Replies
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Why does the 1099r section ask what I did did with Retirement $$, whether I moved it to another acct or cashed it out? I do have it deposited directly. This new 2 me.
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.
June 1, 2019
4:08 PM
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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.
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.
June 1, 2019
4:08 PM
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