ThomasM125
Expert Alumni

Retirement tax questions

I think you mean that you contributed $32,400 to your retirement account over several years while you were working. Now that you are starting to get benefits, you will be allowed to treat a portion of your distributions as not taxable, but not all in the same year. The non-taxable amount that you contributed will be spread out over the remainder of your expected years of life.

 

If you mean that the amount in box 2 of your 1099-R form, the taxable amount, is $572, then you must have entered something incorrectly when you entered your form 1099-R. If so, then you should go back and review your entry, or delete it and start it over.

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