Is the penalty reported in box 2 of a 1099-INT? Follow these steps:
- From the Federal menu, click on Wages & Income
- Expand the menu for Interest and Dividends
- Click Start/Revisit next to Interest on 1099-INT
- Either Add another 1099-INT or click Review next to one already reported on your return
- If starting from scratch, you may either import the 1099-INT or choose I'll type it in myself
- Check the box My form has info in other boxes (this is uncommon).
- Enter the Early withdrawal penalty in Box 2
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