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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.
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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