Do 1099 R Thrift Saving Plan funds transferred by retiree to NFCU Savings or Certificate or Money Market Account is it taxable?

bestwilb1 — Tue, 04 Jun 2019 19:41:37 GMT

It is taxable unless it went into a Traditional IRA accou...

MichaelL1 — Tue, 04 Jun 2019 19:41:39 GMT

It is taxable unless it went into a Traditional IRA account with the NFCU.

If it is regular savings or money market account outside of an IRA it is taxable income.

To enter pension and annuity Payments (1099-R)

Click on Federal Taxes
Click on Wages and Income
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
Then carefully answer the questions that follow.