Early withdrawal on an IRA, taxable amount was $8588. I had 10% fed income tax withheld, which it shows on my 1099R, but TurboTax still shows the tax owed as $859. Why?

153

Expert Alumni

Feb 4, 2023 1:54:47 PM

If it was a traditional IRA, you would owe the normal income tax AND the 10% penalty.