I cashed in some of my 401K in 2008 as an early withdrawal-no taxes were withheld. I'm ready to file my 2008 income taxes, do I have to include my 401k withdrawal as part of my 2008 earnings or, could I wait until next year without any further penalties?

Thank you,
GLD

You report any withdrawals made in 2008 on your 208 taxes. You should have received a 1099-R form from the plan administrator - it will show how much to report as a distribution. If the withdrawal is subject to the 10% early withdrawal penalty (distribution code "1" in Box 7 of the 1099-R) , you report that on line 60 of Form 1040, "Additional tax on IRAs, other qualified retirement plans, etc." You must file form 1040 if a penalty is due.

You should have gotten a 1099-R, you have to include it in your taxes for the year the 1099 was issued.