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I had a 401k withdrwal of 12000.00 , wat entry box do i choose on my state return?
in pennsylvania
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June 4, 2019
1:10 PM
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Retirement tax questions
What was the code in box 7 of the 1099R reporting this retirement withdrawal?
June 4, 2019
1:10 PM
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Retirement tax questions
7and right next to it ira/sep/simple( seperate box but not numbered)
June 4, 2019
1:10 PM
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Retirement tax questions
If box 7 is coded a 7, it is a normal distribution for your retirement plan and it is not taxable by PA. Choose "I'm eligible, plan eligible" when asked what type of retirement distribution is represented by your 1099R. For more info regarding PA taxing of retirement plans, see: https://revenue-pa.custhelp.com/app/answers/detail/a_id/1470/related/1
June 4, 2019
1:11 PM
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Retirement tax questions
thx for the info ,, im a 60 yr old who took out a 12000 distribution from 401k and was taxed automatically from vanguard i guess for 2400 in fed and 368 in pa state tax withheld..turbo tax said i didnt get any $ back from pa.. so i ran it thru hr block and they said i get it back the 368..idk
June 4, 2019
1:11 PM
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Retirement tax questions
think i figured it out . i should not have been taxed.
June 4, 2019
1:11 PM