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Retirement tax questions
FYI to anyone who took the early withdrawal. I just paid for and used the live help on TURBOTAX for the above stated issue. When it comes to state taxes (whatever your state is), it made me go to the Pension Deduction Worksheet page and kept saying it needed my Federal Amount... The federal part is already taken care of in the Federal Tax area... so in the state, put 0 in the highlighted box where it asks for "Federal Amount" and then continue. It will take it and you'll be able to complete your taxes. It's a glitch in the system right now and it still works. For whatever reason, turbotax doesn't automatically show you had state taxes pulled when you withdrew your money. IF you didn't, then this is where you'd put your state taxes you need to pay. That's another issue that I didn't have to deal with. I hope that made sense. So, to recap:
If you had federal and state taxes pulled when you withdrew your 401K distribution, turbotax should handle everything properly, aside from the state part. Just enter 0 in the highlighted box and hit continue.
Thanks!