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April 14, 2024
Question

I got disability retirement before I turned the min. retirement age in 6/2023. For the question as to whether I was under the minimum retirement age, do I mark yes or no?

  • April 14, 2024
  • 1 reply
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I guess the disbursements from Jan to June are considered wages, and then from July to Dec are pension payouts.  It wants to know if I was underage, which I was for only 1/2 the year.  Do I mark yes or no?

1 reply

April 22, 2024

Assuming the income is from disability retirement, then while you are required to report it as income, you are not subject any additional taxes for early distributions.  

 

Was your income from the first part of the year reported on a Form 1099-R as a retirement distribution or was it reported on a W-2 form?  

 

I suggest checking the code on your 1099-R form in box 7.  Typically, if you have received an early distribution where an exception applies, you will see Code 2 entered here. You should not be prompted for your age if the box is classified correctly. 

 

Please see this link for additional information.

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