My husband is 33 and withdrew money from his simple ira and closed his account this year. We were in a financial bind and needed the funds. How do we properly pay the taxes on this year? This will als

[mhc3412]

No other details

[VolvoGirl]

He will get a 1099R for it.  It is taxable and a 10% Early Withdrawal Penalty unless he has an exception.

The easiest way to get to the 1099-R entry screen is to simply search for 1099-R (upper- or lower-case, with or without the dash) in your TurboTax program and then click the "Jump to" link in the search results.

Enter a 1099R under

Federal Taxes on the left side

Wages & Income at the top

Then scroll way down to Retirement Plans and Social Security,

Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

If you are filing a Joint return be sure to pick which person it is for.