I cashed out my 401K this year and it said I had a penalty of $573. Do I pay that separately or is that already taken off my refund amount?

alanapa123 · ‎June 4, 2019

xmasbaby0 · ‎June 4, 2019

If you entered the information from your 1099R as you prepared your tax return, it has already been calculated into the results of your 2016 tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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xmasbaby0 · ‎June 4, 2019

If you entered the information from your 1099R as you prepared your tax return, it has already been calculated into the results of your 2016 tax return.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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I cashed out my 401K this year and it said I had a penalty of $573. Do I pay that separately or is that already taken off my refund amount?