Hello-
I took an early withdrawal from a traditional IRA and subsequently owe on federal/state. What are my repayment options for the amount owed?
You'll need to sign in or create an account to connect with an expert.
The tax and penalty on the withdrawal are taxes. They are calculated by TurboTax and included in your tax return and the amount of tax. This amount of tax due has to be paid by April 15, 2020.
If you are unable to pay by that date, due to a serious illness, natural disaster, and other hardship, you can work with the IRS to find a solution.
Please read this TurboTax Help topic for more information.
The tax and penalty on the withdrawal are taxes. They are calculated by TurboTax and included in your tax return and the amount of tax. This amount of tax due has to be paid by April 15, 2020.
If you are unable to pay by that date, due to a serious illness, natural disaster, and other hardship, you can work with the IRS to find a solution.
Please read this TurboTax Help topic for more information.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
amcnaughton
New Member
alan-entheoshear
New Member
settlersbanjo
Level 2
ediacarian
Level 2
blackcoffeegaosoline
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.