- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You have not mentioned your age. If you are younger than 59 1/2 you will pay a 10% early withdrawal penalty to the feds, plus be taxed at your normal tax rate. CA will also tax you at your normal tax rate. The fact that the fund originated in FL has no relevance. We cannot predict "how much" you will pay in tax since we have no amounts to go on and no information about your other income.
You will receive a 1099R for the distribution which you will enter when you prepare your federal return. The information will flow to the state return.
To enter your retirement income, 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.**
‎August 12, 2023
8:37 AM