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1 reply

D
DanaB27
April 4, 2021

Please be aware, that the taxes withheld on Form 1099-R are carried to line 25 b of Form 1040 and will be credited towards any taxes due.

 

If it was a 401k or traditional  IRA retirement account the distribution will be included in your taxable income and you will pay tax according to your tax bracket. If you are under 59 1/2 you will have an early withdrawal penalty of 10% added.

 

If you need more help then please provide more details. 

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