topic Re: 401k distribution 55+ in Retirement tax questions

401k distribution 55+

happyfeet001 — Mon, 09 Mar 2026 08:55:03 GMT

Hello, I took a 401k+ distribution at 55+, however, TurboTax is applying the 10% penalty even though I am separated from that employer. Why would this be happening and how can I fix?

Re: 401k distribution 55+

Bsch4477 — Mon, 07 Mar 2022 02:52:52 GMT

That issue is well covered here.

https://ttlc.intuit.com/community/retirement/discussion/re-retirement-at-age-55/01/1942649

Re: 401k distribution 55+

dmertz — Mon, 07 Mar 2022 22:19:23 GMT

Note that you only qualify for this exception if the distribution was from the 401(k) of an employer from which you separated from service in or after the year you reached age 55. If you left this employer before the year you reached age 55, you do not qualify for this exception.