Monday, November 7, 2011

Tax Question 1099-R. We just received this today. Can anybody give me any info about it?

We just got a 1099-R in the mail from our bank. We weren't expecting anything else so we filed our taxes over the weekend. I know I can take this in and give it to them but my question is how will it affect my taxes? It says $0.00 is taxable. It shows that some of it has federal income tax with held. The total amount for it is $4251.64 and it was for a Roth IRA that my husband had. Just trying to see if this will raise or lower our return. Thanks :)

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