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gregsmayer
Level 2
February 5, 2024
Question

If I made a withdrawal from my 401k on 10/31/2022 I don’t need to file that on the 2024 tax year do I?

  • February 5, 2024
  • 4 replies
  • 56 views
No text available

4 replies

dmertz
Level 15
February 5, 2024

It would only be reportable in the Retirement Savings Contributions Credit section of 2023 or 2024 TurboTax.

TomK2023
Alumni - Intuit
February 5, 2024

Did you take an early withdrawal?  Can you please clarify?  

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gregsmayerAuthor
Level 2
February 5, 2024

I was working somewhere and I had switched jobs around July 2022.  On 10/31/22 they had terminated that account and I received a check for the amount that was in there so it was considered a “withdrawal”.  Honestly can’t remember if it was done on last years taxes or if it needed to be done on this years?

Employee Tax Expert
AnnetteB6Employee Tax Expert
Employee Tax Expert
February 6, 2024

If the withdrawal (or distribution) occurred during 2022, then you should have received a Form 1099-R for 2022.  This would be reported on your 2022 tax return.  It would not be included on your 2023 return unless the distribution occurred in 2023.

 

@gregsmayer 

 

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