Retirement tax questions

You could have chosen to roll it over into a new retirement account.  You chose to just cash it out and use the money for whatever you did with it.  So....sorry....it is taxable  income; and, if you were younger than 59 1/2 there is an early withdrawal penalty.

 

 

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.**