MarilynG1
Expert Alumni

Retirement tax questions

If you made a withdrawal from a pre-tax Retirement Account (like a 401K), the distribution is always taxable (because it was not taxed previously). 

 

If the withdrawal was made from an after-tax account (like a Roth IRA), it would not be taxable.  The 1099-R you receive will have a Code in Box 7 to indicate the type of withdrawal.

 

However, there are exceptions to the 10% Early Withdrawal Penalty.  Click this link for more info on Exceptions to Early Withdrawal Penalty (disability is an exception).

 

TurboTax will ask you follow-up questions after you enter your 1099-R.

 

 

 

 

 

 

 

 

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