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How not to be taxed anymore for taking out 401k due to injury and lose of employment

 
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How not to be taxed anymore for taking out 401k due to injury and lose of employment

A hardship distribution is not an exception for paying taxes on the distribution or an exception to the 10% early distribution penalty.  However, if you have unreimbursed medical expenses that amount can be an exception to the early distribution penalty.

 

To enter, edit or delete 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

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