I have to pay an additional 10% penalty for an early withdrawal I did from my 401k - when/how does this get paid?

joscelynsol · ‎January 28, 2020

xmasbaby0 · ‎January 29, 2020

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.

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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?