@kingtreavo We cannot answer that. You just have to enter the 1099R on your tax return and let the software do your calculations. You get a 1099R for taking money from a retirement account or money from a pension, etc. We do not know if you took it out before you were 59 1/2 and could incur an early withdrawal penalty or not. Just enter the data as it appears on the 1099R. Then look at your Form 1040----the amount that was taxable will be on line 4b or line 5b depending on whether it was from a pension or from an IRA etc.
To enter your retirement income, Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
