I withheld taxes on my retirement widthdrawl. Why do I still owe instead of recieving a return?

elopez168 — Sat, 01 Jun 2019 02:04:16 GMT

I haven't entered my 1099 info yet. Will my return change once this info is entered?

Income from a tax deferred retirement account or from a p...

DoninGA — Sat, 01 Jun 2019 02:04:17 GMT

Income from a tax deferred retirement account or from a pension is entered on your tax return as ordinary income and taxed at your current tax rate. Any taxes withheld are entered on your tax return as a tax payment (just like from a W-2)

To enter a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099 r in the Search box located in the upper right of the program screen. Click on Jump to 1099 r

topic I withheld taxes on my retirement widthdrawl. Why do I still owe instead of recieving a return? in Retirement tax questions

I withheld taxes on my retirement widthdrawl. Why do I still owe instead of recieving a return?

Income from a tax deferred retirement account or from a p...