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Retirement tax questions
In January or early February you will receive a 1099R for the money you took from your retirement account. You do not say how old you are--but mention taking it out "early." You may be subject to a 10% early withdrawal penalty as well as ordinary tax. You can enter the 1099R on your tax return. If they do not mail you a 1099R you might need to obtain it by going online to your retirement account.
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.**
‎November 29, 2023
6:56 AM