Retirement tax questions

You will not have an early withdrawal penalty of 10% since you were older than 59 1/2, but the money you took out of the retirement account is taxable income that will be added to your other income.

 

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.

 

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