Skip to main content
January 27, 2021
Question

When putting 1099-R in, theres a page where i enter reason. Do i enter my amount before it was taxed or after taxes taken out?

  • January 27, 2021
  • 1 reply
  • 0 views
No text available

1 reply

January 27, 2021

You would enter the amount in box 1 Gross distribution on the Form 1099-R. 

 

If you are under age 591/2, the distribution is considered as an early withdrawal. You will be entitled to an additional 10% penalty on your distribution unless you meet certain exceptions.  For more information, click here: Early distribution penalty