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Do I have to enter in the "Retirement Savings Contribution Credit" the amount of a one time 401K withdrawal, if I have already listed it as income?

 
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2 Replies
rjs
Level 15
Level 15

Do I have to enter in the "Retirement Savings Contribution Credit" the amount of a one time 401K withdrawal, if I have already listed it as income?

Duplicate post.

 

MaryK4
Expert Alumni

Do I have to enter in the "Retirement Savings Contribution Credit" the amount of a one time 401K withdrawal, if I have already listed it as income?

Yes, you must enter the 401k- for the Retirement Savings Contribution Credit, your eligible contribution may be reduced by any recent distributions you received from your 401k.  TurboTax will have pre-filled the box if you entered the 1099-R earlier.  

 

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[Edited 1/12/22 I 12:22 pm PST]

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