2624058
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Skyhawk1188
Returning Member

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"?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question