Penalty on early withdrawal of savings? TurboTax is prompting me to upgrade because I have a penalty but that is untrue, I have not withdrawn anything. How do I fix?

I may have entered something wrong, as I did not withdraw any savings this year, but I cannot find where I might've entered something incorrectly. I assume it thinks I have withdrawn from retirement account, thus a penalty, but I haven't. Please help, I don't want to pay for an upgrade that I deem unnecessary. My return should still be simple.

1096

Expert Alumni

Feb 26, 2025 11:55:57 AM

Did you enter a 1099-R? This is usually where you get early withdrawal penalties.

Go to Wages & Income->Retirement Plans and Social Security->IRA, 401(k), Pension Plan Withdrawals (1099-R) and see if anything is entered there

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Penalty on early withdrawal of savings? TurboTax is prompting me to upgrade because I have a penalty but that is untrue, I have not withdrawn anything. How do I fix?