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Question

Wondering why my tax rate went from 11.9% to 32.5%? Taxable income only went up about $1000 and I had a retirement account rollover into a new provider account?

Forum|Forum|1 year ago
March 2, 2025
1 reply
0 views

Saying I owe over $9k- and I take zero deductions.

I suggest double checking that the retirement rollover reported to you on 1099-R has been indicated as a rollover.

You can revisit the 1099-R section. After entering/checking the data, you will come to a screen with the heading "Tell us if you moved the money through a rollover or conversion"

Select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
On the next screen indicate you rolled all of it over.