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iranla828
New Member

1099-r withdrawl income was already reported as income in prior year. How do I avoid paying taxes twice on this income?

 
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5 Replies

1099-r withdrawl income was already reported as income in prior year. How do I avoid paying taxes twice on this income?

If you did not make a withdrawal in 2022 and did not receive a 2022 Form 1099-R then you have nothing to enter concerning a withdrawal on your 2022 tax return.

iranla828
New Member

1099-r withdrawl income was already reported as income in prior year. How do I avoid paying taxes twice on this income?

I did receive a 1099-r.  But I already included it in my income for 2021

1099-r withdrawl income was already reported as income in prior year. How do I avoid paying taxes twice on this income?


@iranla828 wrote:

I did receive a 1099-r.  But I already included it in my income for 2021


The Form 1099-R that you received, does in show tax year 2021 or tax year 2022 on the form?

dmertz
Level 15

1099-r withdrawl income was already reported as income in prior year. How do I avoid paying taxes twice on this income?

In addition to mentioning the year that is on the Form 1099-R, what is the code in box 7 of this form?  Is the IRA/SEP/SIMPLE box marked?

1099-r withdrawl income was already reported as income in prior year. How do I avoid paying taxes twice on this income?

How was it already included as income on your 2021 return?  Why did you enter it in 2021 if you didn't take it out until 2022?  Or do you mean it was from W2 income?  What kind of account is the 1099R from?  401K or Traditional IRA or a ROTH?

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