topic How can I indicate that the tax withheld, both federal and state on my 2020 1099-R was applied to my 2019 tax return? in Retirement tax questions

How can I indicate that the tax withheld, both federal and state on my 2020 1099-R was applied to my 2019 tax return?

pjbreitbach — Sat, 03 Apr 2021 18:30:37 GMT

If I don't show the amounts withheld, since they don't apply to my current taxes my return appears correct.

Re: How can I indicate that the tax withheld, both federal and state on my 2020 1099-R was applie...

KathrynG3 — Sat, 03 Apr 2021 18:55:14 GMT

If a distribution was received to pay a prior year tax, the withholding on that distribution would apply to the year of distribution only.

The IRS will consider any withholdings in 2020 to be reportable in 2020.

For more information, see: When to Use Tax Form 1099-R: Distributions From Pensions, Annuities, Retirement, etc. - TurboTax Tax Tips & Videos

Re: How can I indicate that the tax withheld, both federal and state on my 2020 1099-R was applie...

rmclark — Fri, 09 Apr 2021 03:39:12 GMT

Some of the tax withheld in my 2020 1099-R was applied to 2019 taxes. How can I account for that in my 2020 tax return. The 2020 1099-R is correct but some of the taxes withheld can't be refunded in 2020 because they were applied to 2019 tax.

Re: How can I indicate that the tax withheld, both federal and state on my 2020 1099-R was applie...

macuser_22 — Fri, 09 Apr 2021 03:45:25 GMT

@rmclark wrote:

Some of the tax withheld in my 2020 1099-R was applied to 2019 taxes. How can I account for that in my 2020 tax return. The 2020 1099-R is correct but some of the taxes withheld can't be refunded in 2020 because they were applied to 2019 tax.

Tax withheld on a 2020 1099-R can only be applied to 2020 tax. It goes on the the 2020 1040 form line 25b.

Re: How can I indicate that the tax withheld, both federal and state on my 2020 1099-R was applie...

rmclark — Fri, 09 Apr 2021 03:59:09 GMT

You are allowed to make a fourth estimated tax payment in the first calendar quarter for the previous year. That was done in January 2020 for the 2019 tax year. The result was that some 2020 income was used to pay 2019 taxes. I don't see how TurboTax allows me to account for this.