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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.
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.
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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