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Retirement tax questions
I am trying to file a 1099-R, and there seems to be a major discrepancy between what the form says and what Turbo Tax is allowing.
The Gross Distribution in Box 1 is for approximately $120K, but Box 2A shows the Taxable Amount as being only $20K. There is no Box 2A on Turbo Tax's 1099-R form, so how do I enter this?
Withdrawals were already made based on the $20K amount, but they are way under the $22K that your system is saying that I owe.
PS: Just to be clear, Turbo Tax Box 2 is Early withdrawal penalty.
‎July 15, 2020
9:23 AM