I received a 1099R for a gross distribution of 251.70 from a settlement fund. Federal tax was withheld of 50.34. Why would I be taxed again?

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The withholding from the distribution is just an estimate of taxes due, just like on a paycheck. Your annual tax filing reconciles the amount you actually owe with the amount withheld.

Received 1099-R from a ESOP. The gross distribution and taxable amount are the same. All the money was put into a Roth IRA. How do I get the cost basis info on 1099-R?

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I received a 1099R for a gross distribution of 251.70 from a settlement fund. Federal tax was withheld of 50.34. Why would I be taxed again?

I received a 1099R for a gross distribution of 251.70 from a settlement fund. Federal tax was withheld of 50.34. Why would I be taxed again?

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I received a 1099R for a gross distribution of 251.70 from a settlement fund. Federal tax was withheld of 50.34. Why would I be taxed again?

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I received a 1099R for a gross distribution of 251.70 from a settlement fund. Federal tax was withheld of 50.34. Why would I be taxed again?

Unlock tailored help options in your account.

Get more help

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