Hi,
I had a settlement in 2023. I was issued 2 separate checks from my employer and told that one check is taxable. For simplicity, lets say one check was $100 and second check was $200
Recently, my employer sent me W2 and 1099 Misc that has the same amount ($200) and a 1099 R for an amount more than the total I received ($300), lets say $400. I don't recognize why gross distribution on 1099R shows an amount more than what I received. Taxable amount shows zero.
Any idea why the 1099R amount would be different from what I actually received? From a tax return standpoint, I input the W2. If I input the 1099Misc , would that not inflate/double count my income ? If I further add the 1099R to my return, would it not triple count the taxable income?
I am really confused. Can you please advise on how these 3 tax forms and 2 different amounts need to be reflected?
