I am really confused. I’m doing my own taxes, because I’m cheap and want to save $100. I am having trouble with the following questions online:
Did you withdraw or receive distributions or payments from:A retirement plan such as an IRA, Roth IRA, or 401(k) in 2005 or 2006?
A retirement plan such as an IRA, Roth IRA, or 401(k) between January 1, 2008, and the due date, including extensions, of this return?
A 404(k), 414(h), or other non-contributory plan as reported on Form 1099-R?
All I know is that I’m enrolled in 401k at work, and according to my W-2’s for 2007 there is a code, an amount less than $500, and the box is checked that says retirement plan. Do I have to say yes to question one? And why are they asking about 2005 and 2006? UGH HELP!!!!!!!!!!!!
You only check yes if you took money out of a retirement plan.
It sounds like you are putting money in to a retirement plan (which is a good thing).
You must be working on the Retirement Savings Credit. People who took money out of a 401k or IRA in 2005, 2006, or 2007 have their credit limited or eliminated altogether. That is why it is asking about 2005 and 2006.