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Retirement tax questions
I got the check before April 15th. Let's say the 401k excess amount was $10000. The check I got was $7000 (30% withheld). If I enter $10000 into TurboTax (for the current year), my tax goes up the extra $3000.
Doesn't this mean I am double-taxed ? They say they will send 1099-R next year, and suggested to contact TurboTax to find where to enter the withheld amount (or rate) for the excess $10000.
Where do I enter the withheld amount ($3000) or the rate (30%) in TurboTax?
‎July 14, 2020
4:10 PM