You will receive a 1099R for the 401k distribution you took---and if you are younger than 59 1/2 you are going to pay the 10% early withdrawal penalty as well as ordinary income tax on that withdrawal.
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.
You will get a document for the investment loss---likely a 1099B--which you will need to enter.
The software will do all of the calculations for you. We do not know what other income you had for 2024 or how much tax you had withheld, but it sounds like you might need to expect to owe the IRS.
**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.**
