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Retirement tax questions
Mike. Go to step by step and delete any 1099-R you have worked on. Then start again reporting your 1099-R as it was issued. When you are asked if the withdrawal was RMD say NO. Then you will be asked about any returned to your account. Enter the amount of the withdrawal minus the tax withheld since you will get the benefit of the withheld tax. Now you will not be taxed on your withdrawal and any tax withheld will be applied to your tax liability.
‎April 28, 2021
7:05 AM