Does line 1 of my W-2 include income received from my early retirement widthdrawl?

[elopez168]

I withdrew 36k from my retirement, withheld 12k for taxes.

[MargaretL · Accepted solution]

No, line 1 of the Form W-2 does not include early retirement withdrawal.  You should be receiving Form 1099-R reporting your early withdrawal.

Please follow 1099-R data entry in turbo Tax:

1. Type 1099-R in the search box, hit Enter - you must be logged and IN your tax return - see pic
2. Select Jump to 1099-R blue link

You will be asked to enter form 1099-R, be sure to enter it exactly as it appears on the form and answer follow up questions, the program will determine if you are subject to an early withdrawal 10% penalty. 

[elopez168]

Ok, line 1 of my W-2 shoes a huge increase from it should read if I had not taken a retirement widthdrawl.