Is forced retirement withdrawal in 2024, claim as income???

[sherrymcconkey]

I received over 6,000 in 2024 from my retirement account due to my age, is this taxable income?

[VolvoGirl · Accepted solution]

It should be.  Did you get a 1099R for it?  What code is in box 7?  And if you were under 59 1/2 there may  be a 10% early withdrawal penalty but that may be an exception to the penalty.

Enter a 1099R under
Federal Taxes on left
Wages & Income
Then scroll way down to Retirement Plans and Social Security
Then IRA, 401(k), Pension Plan Withdrawals (1099-R) – Click Start
If you are adding another 1099R there might be a Add button at the bottom of the list.