I received a 1099-r because i withdrawal all the money i had 401K. After submitting my info in my return is telling i need to pay $83 dollars more of taxes. Will this be reduced from my income tax ret

jorgee-santana · ‎February 3, 2020

MinhT1 · ‎February 3, 2020

Yes, the extra tax that TurboTax is announcing will be included in your tax return and will reduce your refund.

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macuser_22 · ‎February 3, 2020

Your question was cut off - you can add more information.

401(k) distributions are usually all taxable. Any amount withheld in box 4 is an estimate of tax owed. The actual tax depends on your total income and tax bracket which might result is additional tax owed.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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I received a 1099-r because i withdrawal all the money i had 401K. After submitting my info in my return is telling i need to pay $83 dollars more of taxes. Will this be reduced from my income tax ret