Solved
1099-R due to Unemployment
I had to take all of my 401K due to being unemployed.
Does that qualify for a tax break or not to have a penalty.
I paid the taxes once I withdrew the money.
Simply being unemployed is not an exception to the early-distribution penalty.
Permissible exceptions: https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-on-early-distributions
Any tax withholding shown in box 4 of the Form 1099-R will be credited on your tax return.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
