I took my 401(k) early but it's 1099 exempt, what do i do

frankhouston · ‎April 08, 2026

Vanessa A

Why is it 1099 exempt? Do you have a statement from the withdrawal? If so, you can use that to enter the information from the withdrawal. You would still enter it as a 1099-R.

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VolvoGirl

Did you get 1099R for it? What code is in box 7. What do you mean it’s “exempt”? Oh you mean exempt from the early withdrawal penalty? Why did you take it early? The exemptions for 401K are different than for a IRA.