1099-R GROSS DISTRIBUTION IS LESS THAN TAXABLE AMOUNT
The taxable amount showing on my 1099-R form is 37,000 while the distribution amount was only $3700. Is this an error? Why would I be taxed on such a high amount when I was only given a small portion of it???
01409
1 Replies
Bsch4477
Level 15
Mar 28, 2021 7:58:35 PM
Sounds like another zero was added as a typo. Contact the financial institution to clarify and correct.