topic Re: 403b withdrawal in Get your taxes done using TurboTax

403b withdrawal

heatherjoan85 — Tue, 21 Jan 2025 23:12:49 GMT

I changed jobs and decided to withdraw from my 403b. I paid taxes upon the withdrawal and a penalty. Do I need to report that on my taxes?

Re: 403b withdrawal

xmasbaby0 — Tue, 21 Jan 2025 23:14:36 GMT

You will get a 1099R and you need to enter it.

To enter your retirement income, Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.

Re: 403b withdrawal

dmertz — Wed, 22 Jan 2025 03:36:05 GMT

You had taxes withheld from the distribution. Tax withholding is simply a down payment on the tax liability determined on your tax return. The tax withholding is credited on line 25b of Form 1040. The tax consequences of the 403(b) distribution itself are not determined until you prepare your tax return.