topic I cashed out a retirement plan in 2017. For this years return when it asks me about it do I fill in the gross or taxable amount? in Retirement tax questions

I cashed out a retirement plan in 2017. For this years return when it asks me about it do I fill in the gross or taxable amount?

wheredidmycoffee — Sat, 08 Feb 2020 20:47:28 GMT

Re: I cashed out a retirement plan in 2017. For this years return when it asks me about it do I f...

JohnB5677 — Sun, 09 Feb 2020 18:14:05 GMT

If you cashed out a plan during tax year 2019 you should have received a FORM 1099-R for it. If you do not have it, it may be available online, or you can contact the broker who handled it. To pot a 1099-R to your tax return it will ask for both the Groo and Net values.

To post a 1099-R go top:

Income
I'll choose what I work on
Scroll Down to Retirement Plans & Social Security
Select IRA, 401(K), Pension Plans (1099-R)
Yes you did receive a 1099-R
At the bottom of the screen I'll type it myself
You have FORM 1099-R

Complete the payer's information

Then complete all of the information by following the box numbers

Re: I cashed out a retirement plan in 2017. For this years return when it asks me about it do I f...

wheredidmycoffee — Tue, 11 Feb 2020 03:44:23 GMT

No I did it in 2017, I filed it correctly in 2018. This year when it is asking me if I received any distribution I don’t know if I need to input the gross distribution, the taxable amount, or the taxes paid.

Re: I cashed out a retirement plan in 2017. For this years return when it asks me about it do I f...

JohnB5677 — Tue, 11 Feb 2020 18:40:22 GMT

I expect there was some kind of retirement activity in 2019 that ultimately generated the question. Was this a ROTH, or did you have nondeductible contributions in your IRA. In either of these cases it could be used to determine if a portion is taxable.

In any case, the Gross Distribution would be appropriate.