veeluna
New Member

Still waiting for an answer. I will be e-filing, I am owed a refund. However, due to 1099R, I owe additional taxes. Taxes arent being deducted. Due I have to mail them?

 

Get your taxes done using TurboTax

I looked at your other questions.  Why didn't the answers help?  Your refund is after all the income has been entered.  Why do you think the 1099R isn't included?  See if this makes sense to you.  This is for a 2016 1099R?  Or do you owe tax for a prior year?

You didn't actually pay the tax or 10% penalty (you pay a 10% early withdrawal penalty if you are under 59 ½).  You had taxes withheld like from your paycheck. You still have to enter the whole amount (before taxes were withheld) with your other income to figure out the total tax (and it may put you into a higher tax bracket)  and then the withholding is subtracted from the total tax to figure your refund or tax due.  The withholding will show up on 1040 line 64 or 1040A line 40.  The 10% penalty is on 1040 line 59.
veeluna
New Member

Get your taxes done using TurboTax

Thank you! Now, I understand.

Get your taxes done using TurboTax

Oh, so it was this....

It lists the 10% early withdrawal penalty separately on your return.  It's on 1040 line 59. Then you will get credit for the withholding on line 64.

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veeluna
New Member

Get your taxes done using TurboTax

Yes. You simplified it for me.