Took 401K cares withdrawal over 3 years. All the taxes already paid were applied to this year. Do I split the taxes manually? Does it have to be equal split?

Turbotax did not automatically split the taxes that I already paid at the time of the withdrawal. The total withdrawal was split for three years, but not the taxes. How should this be handled?

165

Level 15

Feb 26, 2021 11:53:13 AM

The full amount of the federal taxes withheld in box 4 of the Form 1099-R are entered as a tax payment on your federal tax return, Form 1040 on Line 25b. The taxes withheld are not spread out over 3 years, only the taxable amount of the distribution can be spread out over 3 years.

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Took 401K cares withdrawal over 3 years. All the taxes already paid were applied to this year. Do I split the taxes manually? Does it have to be equal split?