I will receive my pension as a lump sum. I enter it in ESPlanner under the Pension section part 4 but the program treats it as a taxable event. I will roll it over into an IRA, so it will not be taxable in the year I receive it. What am I missing here? Is it better to have it taxed?
Thanks
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Ginny, Rolling over a lump sum pension distribution means you are making a contribution to an IRA at the same time you take the distribtion. You told the program about receiving the distribution, but you didn't tell it about the contribution. So please an IRA contribution on the retirement accounts contribution screen equal to the size of the distribution. best, Larry
That was an issue with an earlier version of ESPlanner. The accounting was all correct, but that input report failed to lump all of the items. It's correct now in the latest version. Update. It always worked and calculated correctly, it just didn't display correctly on that one page of the report. --Dan