topic Re: 1099R in Retirement tax questions

1099R

JWAG2 — Tue, 24 Feb 2026 04:17:03 GMT

I TOOK A $15,000 DISTRIBUTION FROM MY 401K LAST YEAR (I WAS 61) AND FIDELITY HELD $3,000 FOR FEDERAL TAXES. WHEN I ADD THE 1099R IN THE RETIREMENT INCOME SECTION THEN HIT DONE, MY RETURN IS LOWERED BY $3,000. IT SEEMS THAT THE FEDS WANT $6,000 ON A $15,000 DISTRIBUTION WHICH WOULD MEAN IT IS TAXED AT 40%, AND I AM ONLY IN THE 22% TAX BRACKET EVEN ADDING THE $15,000 TO MY REGULAR INCOME. HELP!

Re: 1099R

KrisD15 — Tue, 18 Apr 2023 22:46:43 GMT

Are you sure your refund did not INCREASE by that 3,000 tax? (or that your tax due did not decrease by that 3,000)

Did the distribution trigger tax on your Social Security income?

Re: 1099R

JWAG2 — Tue, 18 Apr 2023 22:58:14 GMT

DEFINITLY DECREASED THE AMOUNT BY $3,000. I THOUGHT THAT BOX 4 (TAX WITHHELD) WAS NOT PULLING INTO THE 1040 PROPERLY SO I DELETED THE $3K AND THE RETURN WAS LOWERED BY ANOTHER $3K. IT JUST DOESN'T SEEM RIGHT THAT TAX IS $6K ON $15K OR AM I INCORRECT?

Re: 1099R

JWAG2 — Tue, 18 Apr 2023 22:59:36 GMT

SORRY I OMITTED THAT I DO NOT TAKE SOCIAL SECURITY INCOME.

Re: 1099R

JWAG2 — Tue, 18 Apr 2023 23:11:22 GMT

SORRY I THINK I REPLIED IN THE INCORRECT AREA. IT DEFINITLY DECREASED THE AMOUNT BY $3,000. I THOUGHT THAT BOX 4 (TAX WITHHELD) WAS NOT PULLING INTO THE 1040 PROPERLY SO I DELETED THE $3K AND THE RETURN WAS LOWERED BY ANOTHER $3K. IT JUST DOESN'T SEEM RIGHT THAT TAX IS $6K ON $15K OR AM I INCORRECT? NO I DO NOT RECEIVE SOCIAL SECURITY.

Re: 1099R

KrisD15 — Wed, 19 Apr 2023 00:00:12 GMT

Which program are you using, Desktop or Online?

Look at your 1040 before and after the 1099-R and see what changes.

Look at line 4a for the distribution

Line 15 for taxable income

Line 16 for tax

Line 33 for payments

Do you have any additional tax on Schedule 2?

Did that little bit of income cause you to loose a credit?

To View Your 1040 in TurboTax Online
Click TAX TOOLS on the left side-bar
Click TOOLS from the drop-down
Select “View Tax Summary” on the Tools Center screen
Click on “Preview My 1040” which now appears on the left side-bar