topic How do I enter a 401(k) distribution that I already paid 30% toward taxes to the investment group? I am older than 59 1/2 years and I did not receive a form 1099-R. in Retirement tax questions

How do I enter a 401(k) distribution that I already paid 30% toward taxes to the investment group? I am older than 59 1/2 years and I did not receive a form 1099-R.

luxamor — Mon, 03 Jun 2019 17:35:05 GMT

I received $16,000 of a $20,000 401(k) partial distribution. I was 61-years-old at the time of the 2017 distribution. Is it necessary to file this information if funds were already withheld toward tax liability?

Yes, it must be reported. Wait for the 1099-R. You shoul...

SweetieJean — Mon, 03 Jun 2019 17:35:06 GMT

Yes, it must be reported. Wait for the 1099-R. You should receive it soon.

TT calculates the taxes due, and then gives you credit for the withholdings (just like for a W-2).

Thank you for the quick reply. I suppose I'll just have t...

luxamor — Mon, 03 Jun 2019 17:35:07 GMT

Thank you for the quick reply. I suppose I'll just have to be patient. 🙂