topic Where us Schedule 1 Form 1040 Part 2 for my withdrawal penalty adjustment Northwest Federal Credit Union? in Retirement tax questions

Where us Schedule 1 Form 1040 Part 2 for my withdrawal penalty adjustment Northwest Federal Credit Union?

tyz321# — Wed, 11 Feb 2026 04:26:41 GMT

CAN i SEE WHERE MY ADJUSTMENT IS FOR INTEREST PENALTY IN BLOCK 2 OF nORTHWEST fEDERAL cREDIT uNION 1099-int?

Re: Where us Schedule 1 Form 1040 Part 2 for my withdrawal penalty adjustment Northwest Federal Credit Union?

DoninGA — Mon, 05 Feb 2024 16:54:10 GMT

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Re: Where us Schedule 1 Form 1040 Part 2 for my withdrawal penalty adjustment Northwest Federal C...

JulieS — Mon, 05 Feb 2024 16:48:02 GMT

Yes, if you look at your tax return, you can see the deduction for early withdrawal penalty on Schedule 1, Part II, line 18.

This figure is combined with other deductions, if any, and carried to Form 1040, line 10.

If you want to look at your 1040, this is how to see it before paying:

Open your return.
Select Tax Tools from the left-side menu, then Tools.
Select View Tax Summary in the pop-up box.
Select Preview my 1040 from the left-side menu.
You will see the Form 1040 with Schedules 1, 2 and 3. Use the inside scroll bar to view the return fully.
When you are done, select Back from the left-side menu.

If you want to see the complete return, with all forms and schedules, you can see it after you have paid for the return, but before you submit it for filing. This is how to do that:

Open your return.
Select Tax Tools from the left-side menu, then Print Center.
Select Print, save or preview this year's return at the bottom of the screen.
Select Pay Now on the next screen and follow the prompts to pay and print or save a copy of the return.

With either method, you can make any needed changes to your return as long as you haven't submitted it for e-file.

Re: Where us Schedule 1 Form 1040 Part 2 for my withdrawal penalty adjustment Northwest Federal Credit Union?

dmertz — Mon, 05 Feb 2024 16:48:31 GMT

When you enter the Form 1099-INT, indicate that the form has other boxes and then enter the amount from box 2 of the form, TurboTax will automatically include that amount on Schedule 1 line 18.