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Retirement tax questions
Yes, the distribution for box 1 will be the amount that you received. Since you didn't have any earnings a few cents off (rounded up or down) won't make a difference.
Maybe these instructions will be more helpful since the search and jump function didn't work well:
- Click "Federal Taxes" on the top and select "Wages & Income"
- Click "I'll choose what to work on"
- Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
- Answer "Yes" to the question "Did You Have Any of These Types of Income?"
- Click "I'll Type it Myself"
- Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
- Box 1 enter total distribution (contribution minus loss)
- Box 2a enter $0
- Box 7 enter J and P
- Click "Continue"
- On the "Which year on Form 1099-R" screen say that this is a 2023 Form 1099-R.
- Click "Continue" after all 1099-R are entered and answer all the questions.
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March 4, 2023
11:44 AM