You should have received or will receive later in January a Form 1099-R for the withdrawal. I assume that this was an early withdrawal if you are under age 59 1/2. In this case there will be a 10% early withdrawal penalty assessed on your tax return and entered as a tax liability. You will need to upgrade to the Deluxe online edition for this tax liability.
To enter a form 1099-R -
- Click on Federal Taxes (Personal using Home and Business)
- Click on Wages and Income (Personal Income using Home and Business)
- Click on I'll choose what I work on (if shown)
- Scroll down to Retirement Plans and Social Security
- On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button
Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R
