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New Member
posted Feb 3, 2025 5:19:40 PM

1099-R

If I withdrew from my 401K from a previous employer, due to termination. When I get to the "Situations May Lower Your Tax Bill" what do I enter in the box for "Other Reason"?

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1 Replies
Level 15
Feb 3, 2025 5:22:13 PM

If you were over 55 when you stopped working there you can avoid the 10% early withdrawal penalty.