How do I enter information from my 401k withdrawals?

[levesque_ron]

I withdraw $400 from my 401k every month to help with bills. How do I enter that information?

[SteamTrain · Accepted solution]

If you are asking about the distributions you are taking in 2023,, for your 2023 taxes...that will be filed in early 2024 :

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In late January or early February of 2024, you will get a 1099-R form from the 401k provider that shows the full year's withdrawal amount, along with any tax withholding (federal and state) you may have had done during 2023.

You enter that 1099-R form in the Retirement Income section of the software....and it's taken care of there.

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IF your 401k administrator has allowed you to set your account paperwork as electronic only, you may have to log into your account to download those 1099-R forms as PDF files.   

Certain other 401k administrators only send them out on paper in the mail. 

Don't plan on getting them until early Feb, so don't attempt to file any earlier.

[xmasbaby0]

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.