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New Member
posted Apr 5, 2025 5:59:19 AM

where do a enter $22,000 deduction to my 401k due to hurricane milton

where on turbo tax due I reduce my 401k by $22,000 early withdrawal due to Hurricane Milton

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1 Replies
Expert Alumni
Apr 5, 2025 6:06:48 AM

You should have received a 1099-R from your 401(k) plan administrator.  Report this in TurboTax by navigating to Federal  > Wages & Income >IRA, 401(k), Pension Plan Withdrawals (1099-R).

 

In order to ensure you pay the tax over a three-year period instead of one, and are exempt from the usual 10% penalty on early distributions, check the box I took out this money due to a qualified disaster after entering your 1099-R.