How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Robin D. Your Own Question
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15328
Experience:  15years with H & R Block. Divisional leader, Instructor
Type Your Tax Question Here...
Robin D. is online now
A new question is answered every 9 seconds

Merlo, My wife has a traditonal IRA and we are both over 70.

Customer Question

Hello Merlo,
My wife has a traditonal IRA and we are both over 70. She decided to withdraw the interest earned on this IRA only. We instructed the bank to withold 10% of this amount for taxes. Will we get a 1099 showing this withdraw and show the amount deducted for taxes?
Dennis Rose
Submitted: 1 year ago.
Category: Tax
Expert:  Robin D. replied 1 year ago.


Yes your wife will receive a 1099R that will show the distribution. The 10% withheld will be listed as well and that will be included with your other information when you file your tax return.

The 1099R will have all you need to report the distribution and the taxes withheld.

After you view my response, please post below if you need more information or if you need no further clarification a positive rating is appreciated.
I know rating takes an additional step and I truly appreciate it when you take the extra time!

Expert:  Robin D. replied 1 year ago.

Please advise if you need more information