Question

The federal tax withheld is still included in 2a. Should the amount in 2a be less the tax already withheld?

Forum|Forum|3 years ago
May 11, 2023
2 replies
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TurboTax Deluxe Online

Employee

No one can see your screen or the document you are asking about. 2a of what---exactly?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

fanfare

Employee

the amount stated should be the amount the custodian sent to the IRS.

VolvoGirl

Employee

The tax withholding does not affect the taxable or gross amounts. The tax withholding is just an estimated amount. You have to enter the whole gross original amount (before taxes were withheld) with your other income to figure out the total tax (and it may put you into a higher tax bracket) and then the withholding is subtracted from the total tax to figure your refund or tax due. The gross amount shows up,on 1040 line 4a or 5a and the taxable amount on 4b or 5b. The withholding will show up on 1040 line 25b.

D

dmertz

Employee

As VolvoGirl indicates, the amount withheld for taxes has no bearing on the taxable amount of the distribution. Tax withholding is simply a down-payment toward the tax liability calculated on your tax return.