MargaretL
Expert Alumni

Retirement tax questions

Unfortunately, the entire distribution is taxable and, subject to additional 10% penalry if it is also an early withdrawal.  

There are a few, very specific exceptions (I'm inlcuding a link that lists them) to an early withdrawal.  Turbo Tax will ask you if you qualify for any of them, after the Form 1099-R is entered in Turbo Tax.  If you don't qualify for them, the entire amount is taxable and subject to an additional penalty, unfortunately.

https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-Tax-on-Early-Distr...

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