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Shouldn't the federal income tax withheld in a Form 1099-R be included in the amount of Taxes Paid in the breakdown? It's only calculating with taxes withheld from W-2s.

Forum|Forum|3 years ago
February 14, 2023
3 replies
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I entered a 2023 Form 1099-R with code P for the 2022 tax year that has federal taxes withheld. This amount isn't calculated in the tax payments unlike the W-2s.

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Best answer by sebastiansuarez5

I found this post:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-r/401-k-excess-deferral/L9XUjVAxP_US_en_US

The withholding will be applied on the 2023 return. I suppose I'll just wait until next year and amend the 2022 return instead.

VolvoGirl

Employee

Isn't it a 2022 1099R? Check your actual 1040 line 25b for the withholding.

S

sebastiansuarez5Author

It's supposed to be a 2023 1099-R. Line 25b is blank on the 1040.

VolvoGirl

Employee

Then the 1099R goes on your return next year. @dmertz

DoninGA

Employee

It is on your Form 1040 on Line 25b

S

sebastiansuarez5Author

It's blank.

S

sebastiansuarez5AuthorAnswer

I found this post:

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-r/401-k-excess-deferral/L9XUjVAxP_US_en_US

The withholding will be applied on the 2023 return. I suppose I'll just wait until next year and amend the 2022 return instead.

D

dmertz

Employee

Right. It's for this reason that having taxes withheld on a return of contribution reported with code P is generally a bad idea. The year that the income must be reported does not correspond to the year that the withholding is credited.