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You cannot claim tax bill as a deduction, unfortunately. The IRS does not allow it as a deduction, nor does it allow it as an exception to an additional tax penalty if you took your 401K early. And, unfortunately, you must claim money taken out from 401K as income.
You should receive Form 401K for your distribution, please follow steps below for data entry:
You cannot claim tax bill as a deduction, unfortunately. The IRS does not allow it as a deduction, nor does it allow it as an exception to an additional tax penalty if you took your 401K early. And, unfortunately, you must claim money taken out from 401K as income.
You should receive Form 401K for your distribution, please follow steps below for data entry:
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