Where do I claim payment of taxes on 401k distrabutions

Forum|Forum|7 years ago
June 1, 2019
1 reply
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the federal gov deducted taxes from a $476 in the amount of $95

TurboTax Deluxe Online

Best answer by DoninGA

You will receive a Form 1099-R in January for the distribution. Taxes withheld are shown on box 4 of the form. Enter the tax data from the form into the TurboTax program. Taxes withheld will be entered as a tax payment on your tax return (just like from a W-2)

To enter a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099 r in the Search box located in the upper right of the program screen. Click on Jump to 1099 r

DoninGAAnswer

Employee

You will receive a Form 1099-R in January for the distribution. Taxes withheld are shown on box 4 of the form. Enter the tax data from the form into the TurboTax program. Taxes withheld will be entered as a tax payment on your tax return (just like from a W-2)

To enter a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099 r in the Search box located in the upper right of the program screen. Click on Jump to 1099 r