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That is correct. The program will calculate and show the 10% penalty and add that amount to your total tax for the year. The same 10% will be reflected in tax paid on your 1099-R as well as your tax return once it has been entered. So, it is calculating it, adding, and then subtracting it from your tax due/refund.
That is correct. The program will calculate and show the 10% penalty and add that amount to your total tax for the year. The same 10% will be reflected in tax paid on your 1099-R as well as your tax return once it has been entered. So, it is calculating it, adding, and then subtracting it from your tax due/refund.
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