401k withdrawal penalty

[sp97360242]

I took a total distribution from a 401k. I was told I would have to pay tax, but I took it out after 59 1/2 so no penalty. I am using turbo tax and when i enter the info it keeps switching my answer to under 59 1/2 and charging me the penalty

[Cynthiad66 · Accepted solution]

Not all forms are ready for filing yet.  You are correct that 591/2 you will not be charged a 10% penalty for early withdrawal.  So wait until you can accurately reflect that on your tax return.

I suggest going through the federal review to see if errors appear and can be fixed.   If not, I suggest you wait a few days and try again.