Is there supposed to be a tax form coming if i cashed out my CalPERS reitrement?
I recently resigned from my job and cashed out my CalPERS retirement. the money came from my 403 B or something like that, so it was money that they took away from my salary. I was taxed on it already, and was told i have to claim that as income? Does anyone know what form its called?
Public Comments
- You need to wait for the 1099-R. Just like taxes from your paycheck, the taxes withheld are NOT the tax bill. You may owe more money (in which as you pay up) or less money (in which case your refund is larger) or may it's just right. You won't know until you get the form. If you do not qualify for an exception, don't forget the 10% penalty--meaning you have to file a form 1040.
