I had a 457b retirement plan and withdrew all of the funds. Where do I report that? Do I need to have a 1099r or will my W-2 suffice?

[breelogna]

I didn't receive a 1099r form, but I don't know if I should be receiving one or not. When I made the withdrawal from my 457b, they withheld 20% for federal taxes, and 5% for state. On my W-2, box 12 states "G 1450.09." Do I need to report this anywhere besides where I input my W-2 information?

[ChristinaS · Accepted solution]

You will receive a 1099-R, and you don't want to file until you have that. In most cases, the investment custodian has until February 1, 2017 to mail it out. It's still kind of early. If you have online access to the (closed) account, you may be able to get it there first.

The code G on your W2 does not represent your liquidation of the account. That code represents contributions into the plan. While you certainly want to type that in when entering your W2, it is unrelated to your withdrawal. A withdrawal would never be include on a W2.

You can enter your 1099-R under Federal Taxes-Wages and Income-Retirement Plans and Social Security. You're 1099-R is typed in here. The form will notate the withdrawn amount and the federal/ state taxes withheld.

[jaf19]

I've completed my 2019 taxes except for this last piece. I received a 1099-R for distribution from a government 457. I entered the distribution amount into Turbo Tax, but where/how do I enter the Federal and State Income Tax withheld? (These are boxes 4 and 12 of the 1099-R form). I live/work in California.

Thank you!

[KrisD15]

When you entered the 1099-R, the screen had boxes 12-14 available to report the tax withheld.  

Please edit the 1099-R and enter the tax withheld in those boxes. 

All 1099-R should have all boxes, was your 1099-R cut off? 

Are you not scrolling down on the entry screen to get to those boxes?