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Level 1
June 5, 2019
Solved

My retirement income has already been federally taxed. Why do I have to report it and will it be taxed again?

  • June 5, 2019
  • 1 reply
  • 3 views
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Best answer by xmasbaby0

If you have a 1099R you need to enter it on your tax return.  Generally the tax withheld is an estimated amount, and you could possibly still owe tax when that money is combined with your other income.

Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

Go to Federal> Wages & Income>>Retirement Plans and Social Security to enter your SSA1099.

1 reply

xmasbaby0Level 15Answer
Level 15
June 5, 2019

If you have a 1099R you need to enter it on your tax return.  Generally the tax withheld is an estimated amount, and you could possibly still owe tax when that money is combined with your other income.

Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

Go to Federal> Wages & Income>>Retirement Plans and Social Security to enter your SSA1099.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**