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t4yer
New Member

My 1099-R form shows taxable income of $14,000+ but I only received a lump payment of $3,900. How do enter this on my tax form?

Don't know if my income should be $14,000 when I only received $3900.

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DDollar
Expert Alumni

My 1099-R form shows taxable income of $14,000+ but I only received a lump payment of $3,900. How do enter this on my tax form?

It sounds to me like there is either a mistake or some missing information.  I think you should contact administrator/plan custodian to get an explanation before filing your taxes.

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2 Replies
dmertz
Level 15

My 1099-R form shows taxable income of $14,000+ but I only received a lump payment of $3,900. How do enter this on my tax form?

Did you have an outstanding loan from the qualified retirement plan and a portion of your distribution was used to pay off that loan (called an offset distribution)?
Was some amount withheld for taxes?

These can explain where the $10,100 went.
DDollar
Expert Alumni

My 1099-R form shows taxable income of $14,000+ but I only received a lump payment of $3,900. How do enter this on my tax form?

It sounds to me like there is either a mistake or some missing information.  I think you should contact administrator/plan custodian to get an explanation before filing your taxes.

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