Solved
Question about my 1099R, why is it that I made $28000 and paid $3100 in taxes but TT says I still owe $4000. Why is my amount owed so much?
No text available
We can't see your tax return, but keep in mind that the $28,000 will be included into your taxable income and the 10% penalty tax if you were under 59.%.
When you enter your 1099-R for an early distribution, you are simultaneously:
1) Reporting the taxable income;
2) Reporting the early withdrawal tax (if applicable); and
3) Claiming the taxes already withheld for this purpose
If you are in the 15% tax bracket, you would pay 15% plus the 10%, which is $7000 total. Less the $3100 withheld is about $4000.
Get answers to all your tax questions
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.
Explore your optionsEnter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2026 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, Credit Karma, and Mailchimp are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
Security Certification of the TurboTax Online application has been performed by C-Level Security.
By accessing and using this page you agree to the Terms of Use.
© 2026 Intuit Canada ULC or its affiliated companies. All rights reserved. Intuit, QuickBooks, QB, TurboTax and ProFile are registered trademarks of Intuit Inc. Terms and conditions, features, support, pricing, and service options subject to change without notice.
Copyright © Intuit Canada ULC, 2026. All rights reserved.
© 2026, Entreprises Intuit Canada ULC ou ses sociétés affiliées. Tous droits réservés. Intuit, QuickBooks, QB, TurboImpôt et ProFile sont des marques déposées d’Intuit Inc. Les modalités, prix, fonctions et options de service et de soutien peuvent changer sans préavis.
© 2026, Entreprises Intuit Canada ULC. Tous droits réservés.