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I need to finish my 2021 taxes. I withdrew a retirement
I need to finish my 2021 taxes. I withdrew a retirement account, part of which I received in 2021, which was only the supplemental part. I was asked to tell the advance payment amount from my 1099-R, … read more
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The state closed out a retirement fund because we did not
The state closed out a retirement fund because we did not have enough in it ($836)--and took out $167 in taxes. We pit in a Roth Ira, but had unexpected expenses and had to pull it out. Now turbo tax … read more
Lev
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I cashed out my 401k when leaving my last job, and as a
Second opinion] I cashed out my 401k when leaving my last job, and as a result, my 401k loan was paid back from it . I'm wondering what i owe on that loan, if i have to pay taxes on it?I know I have t… read more
Stephen G.
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I got a $56K distribution from my traditional IRA, paid $5,100
I got a $56K distribution from my traditional IRA, paid $5,100 in tax at the time of distribution, and that has put me in a new tax bracket (about $100K)which has me owing $16,914 in Federal tax and $… read more
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Took money from a 457 deferred comp plan. got the 1099-R with
Took money from a 457 deferred comp plan. got the 1099-R with a distribution code of 2. Have paid taxes on the distribution. Do I still owe the 10% penalty?… read more
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Employer Paid my Health and welfare benefit to a 401k. I took
Employer Paid my Health and welfare benefit to a 401k. I took spouses health plan instead. The employer paid out the plan because of employment termination. Does this 401k money count as a health fund… read more
Lev
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I am the beneficiary for my brothers CalPERS death benefits.
I am the beneficiary for my brothers CalPERS death benefits. He had vested in CalPERS and I received the pay out of his benefits. How is this handled for tax purposes? It appears that they did state a… read more
rramsook
rramsook
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I was the benificiary of my fathers 401k. The state of SC
I was the benificiary of my father's 401k. The state of SC took the taxes. When I filed in 2009, I didn't report the inheritance. I was told it was not taxable. The state of SC reported the $$ 1099-R.… read more
Bill
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I received a letter that I will be mailed a 1099R. Does a 1099R
I received a letter that I will be mailed a 1099R. Does a 1099R involve being taxed on money that I already withdrew? Also will I be taxed on this money that had federal and stare taxes withheld? If, … read more
Merlo
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On 12/10/08 I received a total distribution for my 401K in
On 12/10/08 I received a total distribution for my 401K in the amount of $53,954.53. Income tax was withheld in the amount of $10,790.91. I had a looan balance of $8494.06 and actually received a chec… read more
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Hello, I inherited a Beneficiary IRA from a relative. Due
Hello, I inherited a Beneficiary IRA from a relative. Due to the economic crisis and being out of work for a lot of 2009, I had to take money out of the IRA so that I could keep my head above water an… read more
Merlo
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I recently lost my job but I will be getting a severance for
I recently lost my job but I will be getting a severance for 32 weeks. I have also found another job so will be getting additional income from that. I have a 401K loan for about $20K that will be fore… read more
Lev
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I have received a 1099-R form for a financial hardship withdrawal
I have received a 1099-R form for a financial hardship withdrawal I took out for medical bills and the withdrawal I took out did not cover all of the medical bills and now I am being penalized. When d… read more
Merlo
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I took out an early distribution out of my 401K a few years
I took out an early distribution out of my 401K a few years ago to pay for tuition in school. I had my retirement company take out the income taxes and my tax person said I did not need to report it o… read more
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Hi Anne; I need your help again with my CA tax return.
Hi Anne; I need your help again with my CA tax return. I received an Early Distribution & my 1099-R shows Gross distribution of $34400. in line 1. 2b is marked as taxable amount not determined & also … read more
Anne
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I have filed my taxes already, but now Ive been mailed a 1099-R
I have filed my taxes already, but now Ive been mailed a 1099-R form to file (401 K) if I amend my form will end up owing taxes amount was 32,345.36 and they (federal) withheld 6.469.07 I filed my tax… read more
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I cashed out a 401k in 2007, when I got the form 409b I believe,
I cashed out a 401k in 2007, when I got the form 409b I believe, I had already done my taxes for 2007. I was told to just include it with my 2008 taxes when I have them prepared. I remeber being taxed… read more
Bill
Bill
Master's Degree
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Is state distribution the same amount as state income tax withheld?
Dear lilbit, The reason the form indicates state distribution, is that some states exempt a portion of a distribution from taxation. However this depends on the source of the payment. What I am confus… read more
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