I worked for the federal govt for 27 years. Was on FERS . Retired early last year. I just received a Form 1099-R
noting a gross distribution from TSP noting a DISTRIBUTION CODE G . I do now receive a monthly pension
which I have recorded. However, I never personally received a gross distribution as noted on the TSP form.
Was this distribution sent elsewhere? Do I have to report it(it appears so)? Thanks
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Yes, you should to report this 1099-R exactly as received so the IRS will not see it as a potential error when they compare their records to your tax return.
HOWEVER, there may be another issue that you need to investigate. This 1099-R is reporting a direct rollover - rollover contribution (Distribution Code G) of your Thrift Savings Plan account. Is this something you were aware of and approved?
While a direct rollover would not be a taxable event, the real question is "Did you transfer your TSP account to another retirement plan administrator?"
If you did make the transfer, there isn't a problem. If you didn't transfer (rollover) the TSP account, then someone else might have (this would be very uncommon) and you need to contact TSP to find out what happened.
turbotax wants form 4852 filled out wh
y
yes
why is turbotax want form 4852
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