If in December 2016 it was nessecary to withdraw $700.00 from 401K (gross amount was $875.00.I paid tax on the withdrawal) do I need to report this? And how?

[LeeM · Accepted solution]

You should receive a Form 1099-R from your 401-K brokerage that shows both the distribution and the taxes withheld. However, the deadline to send out those forms is January 31, 2017. If you don't have it by then, I would contact your brokerage.

You will then report the information from that Form 1099-R in TurboTax using the directions in the FAQ below:

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