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Level 1
February 3, 2021
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1099-R witholding

  • February 3, 2021
  • 1 reply
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    Best answer by JoannaB2

    Yes, The retirement distribution is reported on Form 1099-R.  You may want to withhold taxes on your retirement distribution to avoid additional tax assessment.  A penalty may be assessed if retirement was distributed before you reached 59 1/2.

    1 reply

    JoannaB2Answer
    Level 9
    February 3, 2021

    Yes, The retirement distribution is reported on Form 1099-R.  You may want to withhold taxes on your retirement distribution to avoid additional tax assessment.  A penalty may be assessed if retirement was distributed before you reached 59 1/2.