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1099R federal income tax questions
I retired this past summer and began collecting my pension in Sept. When I entered my W2 my refund was substantial, but as soon as I added my 1099R income my refund was cut by two thirds. What I don't understand is my 1099R had Federal taxes withdrawn - which I entered into box 4 of the Turbo Tax form for the 1099R data. So why is this happening?
Thanks,
‎February 17, 2021
2:28 PM