topic Had $92000 taxable 401k withdrawal. I had 20% withheld. When I entered the info my federal taxes owed went to $12,000, does this include the 10% early withdrawal penalty? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/had-92000-taxable-401k-withdrawal-i-had-20-withheld-when-i-entered-the-info-my-federal-taxes-owed/01/82985#M4807 Sat, 01 Jun 2019 03:10:36 GMT biscuit972000 2019-06-01T03:10:36Z Had $92000 taxable 401k withdrawal. I had 20% withheld. When I entered the info my federal taxes owed went to $12,000, does this include the 10% early withdrawal penalty? https://ttlc.intuit.com/community/retirement/discussion/had-92000-taxable-401k-withdrawal-i-had-20-withheld-when-i-entered-the-info-my-federal-taxes-owed/01/82985#M4807 Sat, 01 Jun 2019 03:10:36 GMT https://ttlc.intuit.com/community/retirement/discussion/had-92000-taxable-401k-withdrawal-i-had-20-withheld-when-i-entered-the-info-my-federal-taxes-owed/01/82985#M4807 biscuit972000 2019-06-01T03:10:36Z If the withdrawal occurred prior to age 59 1/2 and you ha... https://ttlc.intuit.com/community/retirement/discussion/if-the-withdrawal-occurred-prior-to-age-59-1-2-and-you-ha/01/83001#M4810 <P>If the withdrawal occurred prior to age 59 1/2 and you have no exclusion for the early withdrawal penalty, it will be included on your tax return on line 59 of form 1040. The 20% withholding will be credited to what you owe and shown as withholding on your tax return and netted against your taxes.&nbsp;</P> Sat, 01 Jun 2019 03:10:38 GMT https://ttlc.intuit.com/community/retirement/discussion/if-the-withdrawal-occurred-prior-to-age-59-1-2-and-you-ha/01/83001#M4810 Texas Roger 2019-06-01T03:10:38Z