Richard Anderson
Feb 6 2009, 06:00 PM
I think I read somewhere that for plan years 2008 and later, both the refund and gains are taxed in the year distributed, even if distributed by 3/15.
Is this correct? I searched, but can't find where I read this (if indeed, I did read it).
Thanks.
K2retire
Feb 6 2009, 06:57 PM
That is correct. But did you actually have anyone with a gain in 2008?
Sieve
Feb 9 2009, 07:16 PM
Richard --
See IRC Section 4979(f)(2), as amended by PPA '06 (effective for plan years beginning after 12/31/2007).