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ABDAVIES
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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???

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‎March 28, 2021 7:41 PM
last updated ‎March 28, 2021 7:41 PM
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Bsch4477
Level 15
Level 15

1099-R GROSS DISTRIBUTION IS LESS THAN TAXABLE AMOUNT

Sounds like another zero was added as a typo. Contact the financial institution to clarify and correct. 

‎March 28, 2021 7:58 PM
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