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February 24, 2025
Question

Where do I enter information on money I withdrew from my RRSPs in the tax year

  • February 24, 2025
  • 1 reply
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I took money out from my RRSPs in 2024, tax was withheld but how do I report on my tax return?

    1 reply

    JohnB5677
    February 24, 2025

    An RRSP is a Registered Retirement Savings Plan should receive a 1099-R much like a 401-K.

    To Post a 1099-R

    Log into TurboTax

    1. Under Federal
    2. Select Wages & Income
    3. Scroll to and select IRA, 401(k), Pension Plan Withdrawals (1099-R)
    4. Now Edit or Add another 1099-R
    5. Enter your Broker or plan administrator information.
    6. Follow the interview.

    Where do I enter my 1099-R?

     

    That 1099-R will show (in addition to other information).

    • A Gross Distribution in Box 1 and
    • Federal Income tax withheld in Box 4
    • Box 14 would show if any State tax was withheld

    If you did not get a 1099-R you should contact your employer.

     

    Edited 02/25/2025 | 3:37 AM PST

     

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