Get your taxes done using TurboTax

You have not told us how old you are -- if you are younger than 59 1/2 there is a 10% early withdrawal penalty as well as ordinary income tax on the distribution from the retirement account.  They will send you a 1099R in late January or early February, which must be entered on your tax return.

 

Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**