Where do i indicate that i actually used my retirement money for purchase primary residence so i can get the penalty money back?

[dotf221]

where do i indicate that i actually used my retirement money for purchase primary residence so i can get the penalty money back?

[SweetieJean]

Was this a first time home purchase? And what type of retirement money?

[SweetieJean]

<a rel="nofollow" target="_blank" href="https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distri...>

[VolvoGirl]

What kind of retirement money?  The penalty exception for buying a home is only from a IRA, not a 401k or pension plan.

The questions for the 10% early withdrawal penalty exception do not appear right after you enter the 1099-R, they're later in the program after you finish Deductions and credits.

To enter the exception, starting from the "Federal Taxes" tab, select "Deductions & Credits". Select "Choose Explore on my own or I'll choose what to work on ." At the end of the Deductions & Credits section, select the "Done with Deductions" button. After several screens (depending on what entries you've made) you will come to the “Penalty May Apply” screen.   Here you can pick the exception.

You can also go to the section under:
Federal Taxes,
Other Tax Situations,
Additional Tax Payments,
Extra Tax on Early Retirement Withdrawals

[DoninGA]

You have not paid a penalty for the early withdrawal from the tax deferred retirement account.  The 10% early withdrawal penalty is only assessed when you complete your tax return.  You must have entered the Form 1099-R for the withdrawal on your tax return.

If the withdrawal was from an IRA and you are a first-time homebuyer then the penalty will be waived on the first $10,000 of the withdrawal.  If the withdrawal was from a non-IRA then there is no waiver of the penalty for the home purchase.

The TurboTax program will ask you a series of questions based on your entry of the Form 1099-R either immediately after entry of the 1099-R or later in the interview in the Other Tax Situations section for exceptions to the 10% early withdrawal penalty.

To enter a form 1099-R

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

[VolvoGirl]

Or did the plan charge you a penalty for taking a withdrawal?  That is not a tax penalty and you don't get that back.