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Retirement tax questions
It is more complicated! Follow these steps:
- Enter the information as a 1099-R to flow into the 1116. Use the worksheet, page 7, and follow the 1116 instructions.
- For the 1116, you must select lump-sum distributions to mark box G and skip part I.
- Lump sum information is displayed, continue
- Country summary, leave it blank - this relates to part I, select done
- Taxes paid or accrued - select choice and continue
- Other deductions not related- enter any you might have
- Investment interest - any other interest expense
- Continue answering questions
Remove the 1099-R income by making a negative entry under other miscellaneous income.
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March 27, 2023
3:20 PM