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Get your taxes done using TurboTax
Withdrawals from your 401k will be reported on the 1099-R that you received.
Depending on the state that you live in, there are a number of items that are excluded from your federal income (box 1)
Some examples are:
- Contributions to a retirement plan
- Deductions for health insurance
- Deductions for a Health Savings Account (HSA)
In this way your State wages (box 16) can be greater than box 1
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‎February 5, 2020
7:14 AM