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I have to pay an additional 10% penalty for an early withdrawal I did from my 401k - when/how does this get paid?
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posted
January 28, 2020
11:57 PM
last updated
January 28, 2020
11:57 PM
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I have to pay an additional 10% penalty for an early withdrawal I did from my 401k - when/how does this get paid?
When you enter the 1099R for the retirement withdrawal, it will be calculated into your overall tax due or tax refund. If you have not yet received the 1099R, they typically arrive in late January to mid-February.
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.
**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.**
January 29, 2020
10:28 AM
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