If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

If I take a distribution from my 401k balance at this point (being that it's >Jan1) that will not count towards income in 2016, correct? I haven't filed my return yet as I am waiting for W2 data still of course but don't want the 401k distrib to become income for '16 which would offset any refund.

Thanks!

posted

Connect with an expert

1 Best answer

Accepted Solutions

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

A distribution taken in 2017 is income on your 2017 tax return (filed in early 2018).

View solution in original post

2 Replies

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

A distribution taken in 2017 is income on your 2017 tax return (filed in early 2018).

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

Great, thanks! So basically the tax year is 1/1-12/31 which is why at this point it would be in the '17 return.

Still have questions?

Make a post

Manage cookies

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

Get more help

Do you have a TurboTax Online account?

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

Do you have an Intuit account?

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

If I take a 401k distribution (would be considered early), at what point would it be considered income for the tax year? Jan1-Dec31?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert