skil53
New Member

Can you clarify if I am paying 10% early withdrawal penalty on my IRA twice - once withheld by Fidelity at source when drawing and again, as Federal taxes?

I withdrew and received 10% less on the withdrawn amount from my IRA account last year. Although I entered the exact details of my 1099-R from Fidelity, Turbotax calculated this 10% penalty as Federal Tax due and I had to pay it again when filing my return. Will I get the withheld amount back as refund?  Thanks in advance for responding...