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New Member
posted Feb 5, 2024 10:34:45 AM

If I made a withdrawal from my 401k on 10/31/2022 I don’t need to file that on the 2024 tax year do I?

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4 Replies
Level 15
Feb 5, 2024 10:44:21 AM

It would only be reportable in the Retirement Savings Contributions Credit section of 2023 or 2024 TurboTax.

Expert Alumni
Feb 5, 2024 10:51:26 AM

Did you take an early withdrawal?  Can you please clarify?  

New Member
Feb 5, 2024 10:57:14 AM

I was working somewhere and I had switched jobs around July 2022.  On 10/31/22 they had terminated that account and I received a check for the amount that was in there so it was considered a “withdrawal”.  Honestly can’t remember if it was done on last years taxes or if it needed to be done on this years?

Expert Alumni
Feb 6, 2024 6:58:19 AM

If the withdrawal (or distribution) occurred during 2022, then you should have received a Form 1099-R for 2022.  This would be reported on your 2022 tax return.  It would not be included on your 2023 return unless the distribution occurred in 2023.

 

@gregsmayer