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Retirement tax questions
So if I understand you right, if I don't want to amend, I should create a 1099-R for each of the next two years:
This year, filing my 2021 tax return, I create a mock 1099-R to report the *income* this year (and pay taxes on it), but do not report the withholding, because Betterment won't tell the IRS about it until 2022 is over?
And next year, filing my 2022 taxes, I should use the withholdings from the actual 1099-R to reduce the taxes I owe that year? What should I do about Box 1 and Box 2a? Leave them blank? Write "0"? Because I would have already reported those amounts on my 2021 tax return.
‎February 20, 2022
10:08 AM