Retirement tax questions

TeresaM · ‎February 24, 2023

With a Code 1 in Box 7 of the Form 1099-R, it is considered an early withdrawal and I have this screen coming up next. I would recommend to contact the administrator for the plan that issued the Form 1099-R and ask for a corrected form.

With a Code G in Box 7 of the Form 1099-R, even with an entry on the screen titled Review your 1099-R info, it does not mean that number is taxable, even if it was included in Box 1. To be sure, you can Preview your Form 1040 and check that it is not included as income.

You can preview the information on your 1040 form by clicking on Tax Tools, on the left

Select Tools
Then select View Tax Summary, first on the list under Helpful Links. This will show basic information about the return.
In the upper left-hand area, in the menu, click on Preview My 1040
This will show a picture of the information on the tax form and there is a vertical scroll bar on the right-hand side, to scroll down the return.
Scroll down to Line 4a IRA distributions and 4b Taxable amount and 5a and 5b to see if it is being included as taxable income.

@Kimberly-D-
@emikosan

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