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Level 2
January 25, 2022
Question

I withdrew from my 401k to help with student loan repayment, currently TurboTax stated I owe less than what I withdrew. will I see that extra money I withheld?

  • January 25, 2022
  • 1 reply
  • 10 views
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1 reply

Level 15
January 25, 2022

Your tax withheld should be reported on your form 1099-R in box 4 and/or 14. Once you enter the form 1099-R, the tax withheld will appear in box 25 on your form 1040, where it will be subtracted from your income tax. You can look on your form 1040 to verify that the correct tax withheld is appearing there.

 

You can view your form 1040 while working in the online version of TurboTax by following these steps:

 

While working on your return in the Federal section of TurboTax:

 

   1.  Choose the Tax Tools icon on your left menu bar

   2.  Tools

   3.  View Tax Summary

   4.  Choose the Preview my 1040 on your left menu bar

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Level 2
January 25, 2022

Thank you!