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After you file
Sorry---taking money out of a 401k to buy a home is not an exception to the early withdrawal penalty. That is only for a traditional IRA. The money you took from a 401k is subject to the 10% penalty and ordinary income tax. Make sure you have entered your 1099R on your tax 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.**
May 15, 2021
3:28 PM