I withdrew my 401k early and I know I have to pay a 10% penalty, but when turbo tax finished my return it wasn't included in what I owe. Am I supposed to file separately?

croach69 · ‎June 4, 2019

xmasbaby0 · ‎June 4, 2019

If you entered your 1099R and entered the information correctly from it, the penalty was calculated along with everything else. You do not file it separately. Did you enter the 1099R?

Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

View solution in original post

xmasbaby0 · ‎June 4, 2019

If you entered your 1099R and entered the information correctly from it, the penalty was calculated along with everything else. You do not file it separately. Did you enter the 1099R?

Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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I withdrew my 401k early and I know I have to pay a 10% penalty, but when turbo tax finished my return it wasn't included in what I owe. Am I supposed to file separately?