topic I cashed out a traditional IRA but taxes were not withheld at the time. When will I received the tax due request? in Retirement tax questions

I cashed out a traditional IRA but taxes were not withheld at the time. When will I received the tax due request?

bendorf2 — Tue, 10 Feb 2026 09:21:37 GMT

Re: I cashed out a traditional IRA but taxes were not withheld at the time. When will I received the tax due request?

DoninGA — Sat, 27 Jan 2024 21:23:32 GMT

You have to enter the Form 1099-R that you received from the plan administrator for the distribution. If you have taxes owed on your tax return it has to be paid on or before April 15, 2024 to avoid a failure to pay penalty.

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Re: I cashed out a traditional IRA but taxes were not withheld at the time. When will I received the tax due request?

VolvoGirl — Sat, 27 Jan 2024 21:23:37 GMT

You don't pay the tax separately. You enter the 1099R into your tax return and the tax is calculated on your total income. It will either reduce a refund or add to a tax due. If you were under 59 1/2 there is also a 10% Early Withdrawal Penalty on your tax return.