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I received a 1099 off from withdrawal from my IRA. Where can I enter the federal Tax I paid?

Where are my 1040 tax form? Do I add the tax paid on the 1099R withdraw.
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Accepted Solutions
VolvoGirl
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I received a 1099 off from withdrawal from my IRA. Where can I enter the federal Tax I paid?

And You didn’t actually pay the tax or the 10% penalty (you pay a 10% early withdrawal penalty if you are under 59 ½). 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 and the taxable amount on 4b.  You will get credit for the withholding on 1040 line 25b.

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2 Replies
rjs
Level 15
Level 15

I received a 1099 off from withdrawal from my IRA. Where can I enter the federal Tax I paid?

The federal tax that was withheld from your IRA distribution is shown in box 4 of your 1099-R. If state tax was withheld, it's shown in box 14. When you enter your 1099-R in TurboTax, you just enter the amount of tax in those boxes on the same screen where you enter the amount of the distribution.

 

VolvoGirl
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I received a 1099 off from withdrawal from my IRA. Where can I enter the federal Tax I paid?

And You didn’t actually pay the tax or the 10% penalty (you pay a 10% early withdrawal penalty if you are under 59 ½). 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 and the taxable amount on 4b.  You will get credit for the withholding on 1040 line 25b.

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