I took my 401k retirement early because I was terminated. I elected to pay taxes at the time of distribution do I need to file the 1099?

[DoninGA]

Yes, you have to report the distribution and the taxes withheld from the distribution for the 401(k).

The plan administrator will send you a Form 1099-R in January 2023 for the distribution in 2022.  The Form 1099-R is entered on your tax return.

Since this was an early distribution there will be a 10% early distribution penalty entered on your federal tax return as a tax liability.

To enter, edit or delete a form 1099-R -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R