Withdrew 401k Early - Confused on taxes
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Withdrew 401k Early - Confused on taxes

I am a little confused here while trying to find the answer.  I had needed to withdraw about $5,000 from my 401k account earlier in the year.  However, I have not received any tax paperwork for it (1099-R I think?) and there is no tax information on their website for me that I have found.  I was deducted a fee for early withdrawal when I had done it.  What do I need to do here if anything?

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Level 9

Withdrew 401k Early - Confused on taxes

In the event that you can't get the 1099-R form, you may prepare a substitute 1099-R and enter the information about your withdrawal as accurately as possible.  That includes your withdrawal amount is box 1, any tax withheld in box 4,  a code in box 7 and any other information that you may have.  You will be asked to write an explanation why the 1099-R is a substitute.

  1. Federal Taxes
  2. Wages and Income
  3. Scroll down to Retirement Plans and Social Security
  4. Select IRA, 401(k), Pension Plans (1099-R) and be sure to check the box I need to prepare a substitute 1099-R (see pic)

 Note: Are you able to call the 401K administrator and inquire about the form?

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