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MarcA1
New Member

1099-R

I received a 1099-R from an annuity. My question is, how come they would list my Net Income in the Gross Income box? No where on the form I received does it show any fees/taxes that were taken out of the Gross amount to get the Net payment.

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2 Replies

1099-R

any federal withholding should be in box 4 while state withholding should be in box 14. it would seem that if as you claim federal taxes were taken out contact the issuer for a corrected 1099-R. this is a must if the 1099 is wrong. 

MarcA1
New Member

1099-R

Thank you, I have messaged them.

Just weird that they would send a form that has no mention of the actual Gross amount taken and then show only the Net amount (and put that in the Gross box)....not even showing the early withdrawal pentalty, etc. My previous year had all this broken down on the 1099-R.

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