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pwengler
New Member

Also out of the $ 8769.81 distribution I already paid $1753.96 to FED & $438.49 State. Is that not close to enough?

 
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Zbucklyo
Level 9

Also out of the $ 8769.81 distribution I already paid $1753.96 to FED & $438.49 State. Is that not close to enough?

The amounts withheld for taxes on a 1099-R are just like withholding from paychecks - they are estimates of how much you will owe on the distribution when you file your taxes.  Only when you file can you determine how much the distribution impacts your tax liability.

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Zbucklyo
Level 9

Also out of the $ 8769.81 distribution I already paid $1753.96 to FED & $438.49 State. Is that not close to enough?

The amounts withheld for taxes on a 1099-R are just like withholding from paychecks - they are estimates of how much you will owe on the distribution when you file your taxes.  Only when you file can you determine how much the distribution impacts your tax liability.

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