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Retirement tax questions
Although a $900 increase in taxes as a result of entering this seems a bit high, it's not out of the question. Perhaps the distribution is increasing that amount of Social Security income that is subject to tax and the distribution is also resulting in a reduction in some sort of tax credit.
Compare your Form 1040 with and without this Form 1099-R entered to see specifically how this distribution is affecting your tax return.
Compare your Form 1040 with and without this Form 1099-R entered to see specifically how this distribution is affecting your tax return.
May 31, 2019
7:23 PM