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Get your taxes done using TurboTax
If you want to withdraw money from your 401k, then you should contact your 401k custodian (financial company that maintains the 401k). They will help you to process a withdrawal or distribution from your account.
Then, in early 2021 you will receive a Form 1099-R from that financial company showing the amount of money that you took out of your 401k. You will use that Form 1099-R on your 2020 tax return to pay taxes (and possibly a penalty) on the amount that you took out.
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March 3, 2020
7:26 AM