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New Member
posted May 31, 2019 7:08:50 PM

I withdrew everything from my 401k, which wasn't much. But it was federally taxed at 20-some percent. Can I expect to see any of that on my tax return this year?

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New Member
May 31, 2019 7:08:51 PM

Yes, you will get credit on your return for the 20% income tax withheld, similar to the income tax withholding on any wages you earn.

TurboTax will ask about any taxes withheld when you input the 1099-R you receive for the 401(k) distribution.

 

1 Replies
New Member
May 31, 2019 7:08:51 PM

Yes, you will get credit on your return for the 20% income tax withheld, similar to the income tax withholding on any wages you earn.

TurboTax will ask about any taxes withheld when you input the 1099-R you receive for the 401(k) distribution.