The IRA fund holder withheld more than tax due. How can I apply that to my tax payment. And what becomes of the remaining balance?

[camaster1]

The IRA fund holder withheld more than tax due. How can I apply that to my tax payment. And what becomes of the remaining balance?

[DoninGA]

The federal income taxes withheld in box 4 of Form 1099-R are entered on your tax return as a tax payment.

To enter, edit or delete a form 1099-R -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R

[Texas Roger]

The amount of tax withheld on an IRA distribution is entered on your 1099-R that you received from the fund holder. When you enter the 1099-R, you get a credit for the taxes withheld on your tax return.