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fancy123
New Member

Form 1099 Box 4

I need to know where to enter my Fed income tax withheld from my retirement account

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4 Replies

Form 1099 Box 4

Did you receive a Form 1099-R?  If so you enter the 1099-R as received.  

Form 1099 Box 4

Enter a 1099R under
Federal Taxes
Wages & Income
Then scroll way down to Retirement Plans and Social Security
Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start
If you are adding another 1099R there might be a Add button at the bottom of the list.

 

The withholding in box 4 will show up on 1040 line 25b.   

fancy123
New Member

Form 1099 Box 4

So the gross amount is what we get taxed on, even though they took out over $2,000 in federal and $1000 in state taxes?

Form 1099 Box 4

You didn't actually pay the tax. You had taxes withheld like from your paycheck. You still have to enter the whole gross amount (before taxes were withheld) with your other income to figure out the total tax (and it may put you into a higher tax bracket) and then the withholding is subtracted from the total tax to figure your refund or tax due. The Gross amount shows up on 1040 line 4a or 5a and the taxable amount on 4b/5b. The withholding will show up on 1040 line 25b.

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