pliptak
New Member

10% early withdrawal

Is the 10% withdrawal penalty factored into my taxes and paid at the same time taxes are paid, or is it something the IRS requests later down the road? I did my taxes using turbo tax premier, put in all the information including the 1099 and it did include the additional amount of withdrawal (so that I was taxed on the additional income) Everything seemed to go fine, I filed and the IRS accepted it,  but just want to be sure I don't get a big surprise of having to pay that 10% penalty separately at some point.