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Retirement tax questions
When you earned the 401k income, it was taxed by PA and not federal, supposedly. Your code 8 says something went amiss and you do have taxable income. You said there is also state tax withheld. Taxable income and state tax make sense together for this new amount. The fact that you don't recognize having something odd makes me wonder. Did you have an excess amount of 401K withheld? Did the company do something? I recommend you contact your employer and find out why you have the code 8. Is this the correct information or do you need a corrected form?
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‎February 10, 2021
2:02 PM