claimed taxes on my 2023 filing, but some of those items were not sent to the IRS until 2024. What do I need to do?

[CatinaT1]

We'd love to help you complete your tax return, but need more information. Can you please clarify your question?

[garypotter]

I had a distribution from my 401k in December of 2023, with 20% for federal taxes taken out at the time of distribution. I did not receive a 1099-R for this transaction, I did receive a statement showing the amount and the taxes paid. I claimed all of this on my 2023 taxes.

I just received a 1099-R for this transaction showing it as a 2024. I've already claimed this and paid the taxes in 2023.

I have copies of everything and this should also be on Turbo tax for the 2023 return.

Please let me know if additional information is needed.

Thank you,

Gary Potter

[ThomasM125]

If you actually received the funds in 2023, then you don't need to do anything accept for request the broker delete the 2024 Form 1099-R since it is incorrect. If they won't do that, just keep a copy of it and proof that you received the distribution in 2023. It is likely the IRS will assess taxes based on the amount reported on the Form 1099-R in 2024, in which case you can send them documentation showing what actually happened and that should resolve the issue.

It is likely the taxes withheld were reported properly in 2023 since you haven't received a notice of tax due from 2023. That is further evidence that the distribution was in 2023.

[garypotter]

Thank you for the response, it is very helpful. With the program I had with Turbotax for the 2023 tax year, Turbotax will support me on this issue if necessary. Is that correct.

Thank you,

Gary Potter