topic What does this mean Have you had any distributions from a retirement plan after 2013 and before the due date of your 2016 return? in Retirement tax questions

What does this mean Have you had any distributions from a retirement plan after 2013 and before the due date of your 2016 return?

roshellejones — Thu, 06 Jun 2019 06:12:18 GMT

This is a question related to the Saver’s Credit. You ma...

AnnetteB — Thu, 06 Jun 2019 06:12:20 GMT

This is a question related to the Saver’s Credit. You may qualify for Saver’s Credit if you have made contributions to a retirement plan during 2016.

If you have taken money out of a retirement plan (401k, IRA, etc.) from 2013 through today, or if you plan to take money out of a retirement plan between today and April 18, 2016, then you may not qualify to claim the full credit.

If you have always only put money into a retirement plan, but never taken any out, then you are good to go and would answer the question with a No.

To learn more about the Saver’s Credit, click this link: https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-The-Savers-Credit-/INF15617.html

Re: This is a question related to the Saver’s Credit. You ma...

AMCDONALD100 — Sat, 25 Jan 2020 20:19:56 GMT

what if i did receive any distributions from a retirement plan after 2016? but i did get a form for my taxes and they were added. do i still need to put yes?

Re: This is a question related to the Saver’s Credit. You ma...

AnnetteB6 — Mon, 27 Jan 2020 17:20:51 GMT

Yes, if you received a distribution from the following types of accounts (even if it was included on your tax return for the year you received it), you would answer Yes to the question about receiving a distribution:

• Traditional or Roth IRAs (including myRAs), or ABLE accounts

• 401(k), 403(b), governmental 457(b), 501(c)(18)(D), SEP, or SIMPLE plans

• Qualified retirement plans, as defined in section 4974(c) (including the federal Thrift Savings Plan).

If your previous distribution was from the following categories, answer No to the question:

• Distributions not taxable as the result of a rollover or a trustee-to trustee transfer

• Distributions that are taxable as the result of an in-plan rollover to your designated Roth account

• Distributions from your eligible retirement plan (other than a Roth IRA) rolled over or converted to your Roth IRA

• Loans from a qualified employer plan treated as a distribution

• Distributions of excess contributions or deferrals (and income allocable to such contributions or deferrals)

• Distributions of contributions made to an IRA during a tax year and returned (with any income allocable to such contributions) on or before the due date (including extensions) for that tax year

• Distributions of dividends paid on stock held by an employee stock ownership plan under section 404(k)

• Distributions from a military retirement plan (other than the federal Thrift Savings Plan)

• Distributions from an inherited IRA by a nonspousal beneficiary.

To read more details, see the instructions for Form 8880 on page 2 of the PDF document: Form 8880