Does anyone know the percentage they use for the Federal Income tax withheld box?
2007-04-13 11:24:11 · 3 answers · asked by diharpie 2 in Business & Finance ➔ Taxes ➔ United States
That can vary, and it doesn't matter what's withheld. You report the entire distribution as income, then show the federal income tax withheld as withholding on your tax return. If too much total was withheld, you'll get a refund, if not enough was withheld you'll owe the difference.
2007-04-13 11:31:44 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Uh-oh, sounds like nothing was withheld for federal - there's not a standard % for that, it depends on a number of things including what you put on your W-4. If you owe any federal tax, you'll be paying it. Sounds like the other taxes show on your pay stubs.
2016-05-19 18:18:20 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Like wages, withholdings on a 1099R can vary, depending on what you tell the bank or invst co. to withhold for you.
2007-04-13 12:18:37 · answer #3 · answered by LC 2 · 0⤊ 0⤋