Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Feb 12, 2020 9:17:35 AM

Taxes were withheld from my 1099-R early Distribution on my Annuity. My question is, the taxes that were paid and reported on the 1099-R deductible?

I withdrew 43k from my annuity and around $8,500 withheld in federal tax. I received back  $34,500 which increased my AGI by 43k. Except i don't see anywhere during the process that i get a deductible for the 8500 i paid in taxes.

0 1 201
1 Replies
Expert Alumni
Feb 12, 2020 9:39:08 AM

This would show under Federal Income Taxes Paid.  It is not a deduction.