I withdrew my 403b retirement account last year and chose to pay the penalty upfront in order to not owe much come tax time. How do I show this on this year's return?

evenmonkeysfall · ‎June 3, 2019

xmasbaby0 · ‎June 3, 2019

You will receive a 1099R for the retirement money you took out. It will have the information on how much tax was withheld, etc. You should get your 1099R by late January /early February.

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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xmasbaby0 · ‎June 3, 2019

You will receive a 1099R for the retirement money you took out. It will have the information on how much tax was withheld, etc. You should get your 1099R by late January /early February.

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 403b retirement account last year and chose to pay the penalty upfront in order to not owe much come tax time. How do I show this on this year's return?