A Traditional IRA distribution generally includes a taxable portion which will increase the Federal tax balance due. If the 1099-R does not withhold sufficient Federal withholding tax, your net refund will be reduced or income tax balance increased.
If you received a Traditional IRA distribution and it is reported on IRS form 1099-R, it will be entered into the TurboTax software as an income item.
Box 1 lists the gross distribution. Box 2a lists the taxable amount of the gross distribution.
If box 2b taxable amount not determined is checked, you may have to compute the taxable portion of the gross distribution.
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