Out 100000 into non qualified annuity needed to take withdrawal of 63000 too put on condo down-payment now already paid tax on this monet when I put in.
1099r came box 1 gross 63000
Box 2a blank
Box 2b tax not determined check
Box 5 63000
Box 7 distribution codes D and 1
I only made 40000 on my job last year I was receiving a 1600 refund
But when I plugged in 1099 it's telling me now I owe 17500 fed 5690 state how can this be that alot of taxes am I doing something wrong thanks
