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Level 2
March 19, 2022
Solved

On State form 3805P, there is a column for non simple distribution and simple distribution, what is the difference between non simple and simple?

  • March 19, 2022
  • 2 replies
  • 20 views

Please clarify…

 

This topic has been closed for replies.
Best answer by qbteachmt

See if this article helps put the question into perspective for the issue:

https://www.irs.gov/retirement-plans/simple-ira-withdrawal-and-transfer-rules

It seems something is triggering the Additional Tax, which is 10% or 25%, depending on circumstances.

2 replies

Just-Lisa-Now-
Intuit Community Champion
March 19, 2022

Im guessing it means a Simple IRA, vs a 401k or some other type of retirement account?

If you put your cursor in the box and hit the yellow ? on the toolbar, it explains what it means.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
qbteachmt
qbteachmtAnswer
Level 15
March 20, 2022

See if this article helps put the question into perspective for the issue:

https://www.irs.gov/retirement-plans/simple-ira-withdrawal-and-transfer-rules

It seems something is triggering the Additional Tax, which is 10% or 25%, depending on circumstances.

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