Where and how do I enter a 401K penality withdrawal waiver for Financial Hardship
Where and how do I enter the early withdrawal penality waiver amount using Turbo Tax Deluxe? Is it in the 1099R drop down menu section titled: These Situations May Lower Your Tax Bill under "other reasons"?
posted
March 27, 202210:46 AM
last updated
March 27, 202210:46 AM
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Where and how do I enter a 401K penality withdrawal waiver for Financial Hardship
Financial hardship is not an exception from the 10% early distribution penalty.
Go to this IRS website for the exceptions from the penalty when the withdrawal is from an account that is not an IRA - https://www.irs.gov/taxtopics/tc558