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How should I file my penalty of cashing out my 401k early from my previous employer?

 
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Zbucklyo
Level 9
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

How should I file my penalty of cashing out my 401k early from my previous employer?

You will receive a 1099-R from the company administering the 401 (k).  Enter the1099-R exactly as you received it, and the penalty will automatically be computed for you.

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4 Replies
Zbucklyo
Level 9
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

How should I file my penalty of cashing out my 401k early from my previous employer?

You will receive a 1099-R from the company administering the 401 (k).  Enter the1099-R exactly as you received it, and the penalty will automatically be computed for you.

How should I file my penalty of cashing out my 401k early from my previous employer?

Can I contact my old employer for that form?

How should I file my penalty of cashing out my 401k early from my previous employer?

It should be sent automatically to you by the administrator of the 401 (k) plan.  If you have moved in the interim, you might want to contact the administrator so that they send the 1099-R to the correct address. You should receive the 1099-R by the middle of next month, if not sooner.
What_701
New Member

How should I file my penalty of cashing out my 401k early from my previous employer?

Can I have them take out the taxes and pay any outstanding loans out before they issue the check?

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