Question

Where do I enter early IRA withdrawl amount?

Forum|Forum|1 year ago
April 14, 2025
1 reply
0 views

my company closed out our pensions which I rolled over to an IRA account. I have withdrawn money from that account and don't know where to enter it on my taxes.

TurboTax Deluxe Online

DoninGA

You must have received a Form 1099-R for the withdrawal

To enter, edit or delete a form 1099-R -

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Scroll down to Retirement Plans and Social Security
On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Online editions -

On the screen Did you get a 1099-R in 2024? Click on Yes

On the screen Let's import your tax info Click on Change how I enter my form
On the screen How do you want to add your 1099‑R? Click on Type it in myself

On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue

L

lansinger_tAuthor

I have entered the 1099-R but my 1099-R shows the amount rolled over from my pension check to my IRA and not the amount I withdrew from IRA. That's where I'm confused on where to enter that.

D

dmertz

I did a withdrawl in January and the banker at the credit union said I would still file taxes on it this year because I got the pension check in 2024. I did not withdraw the full amount only a portion. Yes the full amount was in box 1.

The ordinary distribution that you received in January 2025 will be reportable on your 2025 tax return, not on your 2024 tax return. This distribution is independent of the rollover reported on the code-G 2024 Form 1099-R.

The code-G Form 1099-R is reportable on your 2024 tax return as you have already done.