- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
If you used money from a 401k before you reached age 59 1/2 you will owe the 10% early withdrawal penalty as well as ordinary income tax. You do not get an exception to an early withdrawal from a 401k for purchasing a house. The exception for that is only for a traditional IRA.
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.**
‎April 15, 2022
8:57 AM