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Do I need to file for the amount I had withdrawn out of my 401k. It was taxed before I received the money from it.

 
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dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to file for the amount I had withdrawn out of my 401k. It was taxed before I received the money from it.

Yes, you are required to include the 401(k) distribution on your tax return.  The actual increase in your tax liability resulting from the distribution could be more or less than what was withheld because the tax liability resulting from the distribution is not determined until you prepare your tax return.  The tax withholding is nothing more than a down-payment toward the tax liability calculated on your tax return and will be credited on Form 1040 line 25b.

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dmertz
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to file for the amount I had withdrawn out of my 401k. It was taxed before I received the money from it.

Yes, you are required to include the 401(k) distribution on your tax return.  The actual increase in your tax liability resulting from the distribution could be more or less than what was withheld because the tax liability resulting from the distribution is not determined until you prepare your tax return.  The tax withholding is nothing more than a down-payment toward the tax liability calculated on your tax return and will be credited on Form 1040 line 25b.

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