- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
@jrobwebster wrote:
I did do that. Still, it was indicated that the amount was still owed, even though it had been withheld.
If you were under age 59 1/2 at the time of the distribution and there were no exceptions to the early withdrawal penalty, the program would have assessed an early distribution penalty of 10%. That amount would have been entered on Schedule 2 Line 8. The amount from Schedule 2 Part II Line 21 would have flowed to the Form 1040 Line 23 as a tax liability.
May 2, 2025
12:28 PM