turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

IRA early withdrawl payment

We just filed our 2019 taxes and are being billed an amount for my husband taking out his 401k early. Where are we supposed to make this payment? The system did not notify us of a place to pay when we finished filing. 

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

IRA early withdrawl payment

The 10% Early Withdrawal Penalty is included on your tax return.  It either increases your tax due or reduced your refund.

 

The 10% Early Withdrawal Penalty is on Schedule 2 line 6 which goes to 1040 line 15

 

Then you get credit for all the withholding taken out on 1040 line 17.

IRA early withdrawl payment

so we don't need to make an actual payment to the IRS? It was just billed through our return?

IRA early withdrawl payment

Right.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question