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View Full Version : Where do I put 401k distributions on my tax forms


RevTiny
Feb 4, 2010, 06:38 PM
I lost my job last Oct and received a distribution from my 401k in order to pay bills so I didn't have to be homeless and jobless. I had them withhold their standard 20% plus an additional 10% to cover the penalty. I just need to know where my 1099-R information goes on my tax forms. Is it just in with the regular income and withholding, and I have to add the penalty amount on a different line, and if so where?

ebaines
Feb 5, 2010, 08:25 AM
You report the distribution on line 16 of your 1040 -"Pensions and annuities," you report the 10% penalty on line 58 - "Additional Tax on IRAs, other qualified retirement plans," and you include the amount of tax that was withheld from your distribution on line 62, "Federal income tax withheld from Forms W-2 and 1099."