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