turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Can I file my taxes if I have no earned income but have 2 dependents ages 3 and 1. I also took out a 401k and paid taxes on it when I withdrew.

 
2 Replies

Can I file my taxes if I have no earned income but have 2 dependents ages 3 and 1. I also took out a 401k and paid taxes on it when I withdrew.

Yes you probably need to file since you got a 1099R for the 401K distribution.   You didn't pay the tax on the withdrawal.  That was just the withholding.   You might owe more or get a refund from it.  

Enter a 1099R under

Federal Taxes Tab or Personal (Home & Business)

Wages & Income at the top

 

Then scroll way down to Retirement Plans and Social Security,

Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

 

There are 4 boxes.  Be sure to pick the right box for the kind of 1099R you got.

 

Can I file my taxes if I have no earned income but have 2 dependents ages 3 and 1. I also took out a 401k and paid taxes on it when I withdrew.

If you have any taxable income (such as a 401k withdrawal) you need to file a return.  The withholding from the 401(k) is almost definitely wrong (too much or too little) so you need to file to calculate that tax and see if you owe more or are due a refund.  Also, for 2021 only, if you have child dependents, you will qualify for a child tax credit even if you don't have earned income.  If you received the advance child tax credit, you must file to reconcile the credit and claim any additional amount you are entitled to.   And if you did not receive the $1400 per person stimulus, you will get that money as a rebate. 

Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies