Have a Tax Question? Ask a Tax Expert
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
When you receive your 1099-R from the company holding your IRA, it will tell you how much of your distribution is taxable.
You can get a statement from them to determine what is, and isn't, taxable.
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Is there anything particular about your circumstance that you would like clarification on?
Generally, all distributions from a SEP IRA/ Simple IRA are taxable.
That is because contributions to these plans are tax deductible
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