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April 15, 2024
Question

Due to lump sum 1099-r, my taxes are very high

  • April 15, 2024
  • 1 reply
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due to lump sum 1099-r, my taxes are very high, is there anything i can do to reduce taxes

1 reply

April 15, 2024

If you withdrew a lump sum from a retirement account such as an IRA or 401(k) plan, you have to pay taxes on the amount withdrawn, and there's no way to reduce taxes.

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