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Retirement tax questions
No. Moving expenses are not deductible for anyone except active duty members of the military. Using your retirement money to buy a camper or a truck is not deductible, nor is it any sort of exception to making that income taxable. Ifyou are under 59 1/2 you will also owe a 10% early withdrawal penalty for the distribution from the retirement account, as well as ordinary income tax.
You will get a 1099R for the money you took from your retirement account.
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.**
‎June 5, 2019
11:15 PM