DianeC958
Expert Alumni

Retirement tax questions

You should have a tax document for the distribution, Form 1099-R.

On the 1099-R you would have the full amount of the distribution in Box 1, the taxable amount in Box 2, which would be the amount of interest, and the amount you contributed in Box 5.

 

If you have entered this information into TurboTax you are correct that it should only tax you on the interest amount.

 

Please review your entries to make sure you have accounted for all of this information.

 

Link to more information about Tax Form 1099-R

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