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cpg8as
New Member

I withdrew 4440, gained, 1,200, paid 888 in taxes, where does the entry out the taxes I paid already on the turbo tax form?

Once again, where are the taxes that have paid already the government, where is the entry on the turbo tax forms?
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2 Replies

I withdrew 4440, gained, 1,200, paid 888 in taxes, where does the entry out the taxes I paid already on the turbo tax form?

I assume you got a 1099R with the withholding in box 4?  That will show up on 1040 line 25b.  

 

You didn't actually pay the tax. 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 can reduce any credits) 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 or 5a and the taxable amount on 4b/5b. The withholding will show up on 1040 line 25b.

DawnC
Employee Tax Expert

I withdrew 4440, gained, 1,200, paid 888 in taxes, where does the entry out the taxes I paid already on the turbo tax form?

The withholding that you entered from box 4 on your 1099-R from will show up on your tax return, Form 1040, line 25b.   Where do I enter a 1099-R?

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