You didn't pay the tax, you had tax withheld, just like W-2 withholding that will be applied now to pay the tax.
The actual tax depends on your other income and margional tax bracket. If not enough tax was withheld, you will owe more.
The box 4 (or box 12 state) withholding will be added to all other withholding, such as W-2 withholding, and be shown on line 64 on the 1040 form to offset your overall tax liability. If you are not 59 1/2 or older the there will be an additional 10% early withdrawal penalty.
Enter a 1099-R here:
Federal Taxes,
Wages & Income
I’ll choose what I work on (if that screen comes up),
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "1099-R" which will take you to the same place.
Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.
[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]
It will show as income on the summary screen which shows gross income, not taxable income.
The income will be reported on line 15a or 16a on the 1040 form (depending on the type of account).
The taxable amount will go on line 15b or 16b.
lines 11a/b and 12a/b if 1040A form
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
