Deductions & credits

You are past the age of 59 1/2 so you do not have an early withdrawal penalty.  But the distribution from your retirement account is taxable at any age.  In January you will get a 1099R that must be entered 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.

 

Your state might tax the retirement money as well--depending on what state you live in.

**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.**