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New Member
posted Jun 4, 2019 7:20:34 PM

If I filed my 1099-R for 401k withdrawal via TurboTax, does that take care of any taxes I need to pay on that income? Do I need to do anything else?

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1 Best answer
Intuit Alumni
Jun 4, 2019 7:20:35 PM

No, TurboTax program will calculate your income and tax withheld and combine it with the rest of your income, deductions, credits and penalties if any. If your withholding was more than your tax liabiltiy, you get a refund. If it is less, you pay the balance due to the IRS.

1 Replies
Intuit Alumni
Jun 4, 2019 7:20:35 PM

No, TurboTax program will calculate your income and tax withheld and combine it with the rest of your income, deductions, credits and penalties if any. If your withholding was more than your tax liabiltiy, you get a refund. If it is less, you pay the balance due to the IRS.