Found a step by step method using Form 8689 and entering the info on specified lines of my 1040
This year, I noticed that our W2-VI is semi supported but not their 1099-R
The W2-VI recognized the VI withholdings The 1099-R did not
Will the recognized withholding be used by TurboTax to show credit on the Federal 1040?
And I will have to enter/add the amount from the retirement 1099-R withholding on my 1099 line 33 ?
Do you have any reason to believe that the administrator who issued the 1099-R withheld any income tax and sent them either to the VI or the IRS?
If so, you might do the following:
Go to Deductions & Credits->Other Income Taxes->Other Income Taxes Paid in 2023-> Withholding not already entered on a W-2 or a 1099, and click on Start.
Here you can enter withholding that is not entered elsewhere...
"1099 line 33"? What is this?
Yes, the W-2 VI is recognizably the same as the regular W-2.
But what does their 1099-R look like?
Oops… Meant 1040 line 33 where we would claim credit for taxes paid to the USVI
their 1099R appears to be a standard format, without a line for federal taxes withheld..
shows only taxes withheld by the Govt employee retirement system and paid to the VI Government
Anything you can suggest?
thanks
Do you have any reason to believe that the administrator who issued the 1099-R withheld any income tax and sent them either to the VI or the IRS?
If so, you might do the following:
Go to Deductions & Credits->Other Income Taxes->Other Income Taxes Paid in 2023-> Withholding not already entered on a W-2 or a 1099, and click on Start.
Here you can enter withholding that is not entered elsewhere...