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Retirement tax questions
pillitto,
Don't know why the email notification didn't reach me, but based upon your updates, the answer is simple:
You report the income under the 1099-R section of your US resident 1040 tax return. Be sure to enter the 30% income tax figure in box 7 that was withheld in that same dialogue screen so that you don't end up paying that tax twice!
BTW, it is good that income tax was withheld! In my volunteer work in the free IRS VITA/AARP TaxAide I've seen too many instances where none was withheld and the taxpayer was then hit with a large tax bill that included interest and underpayment penalties.
‎June 23, 2020
6:38 PM