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katy56
New Member

The extra tax due (penalty) was paid when I withdrew funds from my 401K this read as though its being taken again how can I make sure its not being taken out?

 
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1 Reply
Karen1209
New Member

The extra tax due (penalty) was paid when I withdrew funds from my 401K this read as though its being taken again how can I make sure its not being taken out?

You can preview your 1040 by doing the following in the left menu:

  • Click on click on Tax Tools.
  • Click Tools.
  • Click Preview my 1040.


When you take an early withdrawal from a retirement plan, there are federal taxes and a penalty. 

The penalty may be waived under certain circumstances.  Please see below for details.

https://ttlc.intuit.com/replies/5848927

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