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Retirement tax questions
The tax you paid is Federal tax withheld.
The distribution amount is $50,000 and is in box 1 of form 1099-R. The tax withheld is in box 4 of form 1099-R.
On your form 1040, lines 4a and 4b should show $50,000. And line 25b should show $6,000.
You can verify this by previewing your form 1040.
You can preview your form 1040 by following these steps:
- In TurboTax, open your return
- In the left-hand column, locate Tax Tools, click on the drop-down arrow then click on Tools
- On the Tools Center page, click on View Tax Summary
- In the left-hand column, click on Preview my 1040
- Your form 1040 will display.
- Scroll down to the lines specified above and you should see these amounts.
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March 21, 2023
10:09 AM