On my 1099R the gross distribution before taxes is 5909.76. There was $500.00 with held for Federal taxes. Why does it still show income as the gross distribution amt?

nvalenciataxes — Wed, 05 Feb 2020 02:04:36 GMT

Re: On my 1099R the gross distribution before taxes is 5909.76. There was $500.00 with held for Federal taxes. Why does it still show income as the gross distribution amt?

rjs — Wed, 05 Feb 2020 02:11:37 GMT

That's the way it works. It's the same as when you have federal tax withheld from your pay. Your "take-home pay," the paycheck that you get, is your gross pay minus the tax (and possibly other deductions). But the taxable income on your W-2 is your gross pay, before the tax is subtracted. The 1099-R works the same way. The taxable income is the gross distribution, before the tax is subtracted.

topic On my 1099R the gross distribution before taxes is 5909.76. There was $500.00 with held for Federal taxes. Why does it still show income as the gross distribution amt? in Retirement tax questions

On my 1099R the gross distribution before taxes is 5909.76. There was $500.00 with held for Federal taxes. Why does it still show income as the gross distribution amt?

Re: On my 1099R the gross distribution before taxes is 5909.76. There was $500.00 with held for Federal taxes. Why does it still show income as the gross distribution amt?