Last year I had to pay $6000.00 taxes to pay the taxes I withdrew the money from my 401k. This year I got a 1099R for that money ($6000) do I have to pay taxes again.
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It depends if you had enough tax withheld when you withdrew the money. You will have to include the 1099-R on your tax return and if it's from pre-taxed contributions the income will be taxable. Also, if you withdrew the money before reaching age 59½ then it may be subject to an additional 10% tax. But the tax that was withheld (shown in box 4 on the 1099-R) will also be included in your tax return.
Please follow these instructions on how to enter the 1099-R:
It depends if you had enough tax withheld when you withdrew the money. You will have to include the 1099-R on your tax return and if it's from pre-taxed contributions the income will be taxable. Also, if you withdrew the money before reaching age 59½ then it may be subject to an additional 10% tax. But the tax that was withheld (shown in box 4 on the 1099-R) will also be included in your tax return.
Please follow these instructions on how to enter the 1099-R:
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