Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
sjvixen
New Member

Why do I have to file a 1040 Long this year? We had an early withdrawal (very minimal amount) from a 401K due to a job termination. Would that require 1040 Long??

 
1 Best answer

Accepted Solutions
DoninGA
Level 15

Why do I have to file a 1040 Long this year? We had an early withdrawal (very minimal amount) from a 401K due to a job termination. Would that require 1040 Long??

The 10% early withdrawal penalty can only be assessed on a Form 1040 and entered on Line 59 as a tax liability.

The TurboTax Free online edition only supports Form 1040EZ and Form 1040A, not the full Form 1040.  You must upgrade to the Deluxe online edition or higher for the full Form 1040.

View solution in original post

1 Reply
DoninGA
Level 15

Why do I have to file a 1040 Long this year? We had an early withdrawal (very minimal amount) from a 401K due to a job termination. Would that require 1040 Long??

The 10% early withdrawal penalty can only be assessed on a Form 1040 and entered on Line 59 as a tax liability.

The TurboTax Free online edition only supports Form 1040EZ and Form 1040A, not the full Form 1040.  You must upgrade to the Deluxe online edition or higher for the full Form 1040.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~