Your 401k distribution is subject to an early withdrawal penalty of 10% if you are under the age of 59 1/2, plus ordinary income tax. Distributions from a 401k are not exempt from the early withdrawal penalty for use as a down payment on a home---only distributions from an IRA can be exempt.
You will get a 1099R in January/early February and it will have to be entered on your tax return. The amount withheld from the distribution was only an estimate.
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.**
