You'll need to sign in or create an account to connect with an expert.
"I am over 59 1/2,,,," If you are OVER 59 1/2 then it is not early, and you are not subject to the 10% early withdrawal penalty. Your retirement fund distribution will be taxed at your ordinary tax rate on your federal return and if retirement income is taxed in your state, at the rate your state has determined.
You will receive a 1099R in late January/early February which you will need to enter on your 2017 tax return.
Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
terrys-mail2
New Member
mjmoor60
New Member
poppi5070
Level 2
Stllwtrs
Level 1
lswrfw
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.