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New Member
posted Apr 15, 2024 3:07:13 AM

Due to lump sum 1099-r, my taxes are very high

due to lump sum 1099-r, my taxes are very high, is there anything i can do to reduce taxes

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1 Replies
Expert Alumni
Apr 15, 2024 5:35:14 AM

If you withdrew a lump sum from a retirement account such as an IRA or 401(k) plan, you have to pay taxes on the amount withdrawn, and there's no way to reduce taxes.