Question

I just filled my federal and state returns through turbo. I did withdraw and closed my IRA account in 2019 and paid the tax penalties on it as I closed it. There was an option to put something in on a

Forum|Forum|6 years ago
January 21, 2020
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TurboTax Free Edition Online

Employee

Please finish your question. Did you enter the 1099R?

You didn't actually pay the tax or 10% penalty (you pay a 10% early withdrawal penalty if you are under 59 ½). You had taxes withheld like from your paycheck. You still have to enter the whole gross original amount (before taxes were withheld) with your other income to figure out the total tax (and it may put you into a higher tax bracket) and then the withholding is subtracted from the total tax to figure your refund or tax due.