Eric1001
Returning Member

Retirement tax questions

Hi Macuser 22,

 

Fidelity is the plan administrator for my previous employer.

 

With the request from my previous employer, they did allow me to withdraw the money with IRS Code E. 1099-R has not been issued yet, but when I login to the system I see a draft form showing "2021" 1099-R with Code-E. It also shows "estimated" tax has been withheld for both federal and state. Is it still possible to avoid double taxation?  Turbo tax software suggest I pay the taxes now and then next year when I receive the physical copy of 1099-R only put the gains.  Not sure how to go about it to file my taxes for 2020 to avoid double taxation with the given Code E.