TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

Penalty on early withdrawal of savings? TurboTax is prompting me to upgrade because I have a penalty but that is untrue, I have not withdrawn anything. How do I fix?

Forum|Forum|1 year ago
February 26, 2025
1 reply
0 views

I may have entered something wrong, as I did not withdraw any savings this year, but I cannot find where I might've entered something incorrectly. I assume it thinks I have withdrawn from retirement account, thus a penalty, but I haven't. Please help, I don't want to pay for an upgrade that I deem unnecessary. My return should still be simple.

Did you enter a 1099-R? This is usually where you get early withdrawal penalties.

Go to Wages & Income->Retirement Plans and Social Security->IRA, 401(k), Pension Plan Withdrawals (1099-R) and see if anything is entered there

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"