Will i need to add information about my 401K since I pulled my money out ?

pparks68 — Sat, 01 Jun 2019 03:17:02 GMT

Yes. Whether you are retirement age or below retirement...

DianeW — Sat, 01 Jun 2019 03:17:04 GMT

Yes. Whether you are retirement age or below retirement age, a distribution from a 401(k) will be taxable. The plan administrator or employer if applicable will send you a Form 1099R.

If you transferred the amount to another retirement plan, that portion may be reported but should not be taxed. If you are below retirement age (59 1/2) there may also be a premature distribution penalty, usually 10%.

Follow the instructions here to enter your information in TurboTax Free Edition:
- My Account > Tools > Topic Search > Type 1099r > Go
- Click the screenshots attached to enlarge and view for assistance.

topic Will i need to add information about my 401K since I pulled my money out ? in Retirement tax questions

Will i need to add information about my 401K since I pulled my money out ?

Yes. Whether you are retirement age or below retirement...