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Retirement tax questions
What code is in box 7 on the 1099R? Did they take any withholding out of it? When you put in in the new retirement account did you also add back in the withholding? Otherwise the withholding becomes a distribution and taxable and the early withdrawal penalty.
If you rolled it over it should say 0 for the taxable amount on 1040 line 4b or 5b with the word Rollover by it.
‎April 14, 2024
7:34 PM