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whiskey123987456
January 26, 2023
Question

Did you receive any distributions from a retirement plan after 2019? What does that mean? Does a TRS count as one?

  • January 26, 2023
  • 1 reply
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Cynthiad66
January 26, 2023

Yes a TRS counts.

 

Any funds that are received through a Direct Withdrawal are taxable, and the IRS requires the TRS to withhold 20% of the withdrawn amount, except for TDA hardship withdrawals. In addition, an IRS-imposed 10% tax may also apply in some cases.

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