How do I put in info for my 401k??? I cashed out my account.

[tax2018shawna]

I’ve not done this before. This is only my second year doing my own taxes.

[DoninGA · Accepted solution]

You should have received or will receive later in January a Form 1099-R for the withdrawal.  I assume that this was an early withdrawal if you are under age 59 1/2.  In this case there will be a 10% early withdrawal penalty assessed on your tax return and entered as a tax liability.  You will need to upgrade to the Deluxe online edition for this tax liability.

To enter a form 1099-R -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen.  Click on Jump to 1099-R