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January 31, 2025
Question

I terminated my 401k early 2024 and the documents I received don't give me information for a 1099 so do I have to file the information?

  • January 31, 2025
  • 2 replies
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I did pay in taxes to state and federal but there is no information supporting that I did???

    2 replies

    Employee
    January 31, 2025

    You will need to enter a 1099R for the money distributed from the 401k.   The tax withheld was an estimate, just like when your employer withholds tax from your paychecks.   All of your income and all of the tax withheld has to be entered, and then the software calculates whether you owe more or get a refund.

     

    Check with the custodian of the plan --- you can likely get the 1099R from their website.

     

    To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

     

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
    DoninGA
    Employee
    January 31, 2025

    You should have received or will receive a Form 1099-R in the mail for the distribution that occurred in 2024

    The Form 1099-R is entered on your tax return