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    hrpuff1's Avatar
    hrpuff1 Posts: 1, Reputation: 1
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    #1

    Apr 4, 2009, 08:18 AM
    10% penalty
    I took my 401k instead of rolling it over and paid the 10% penalty, do I get to count that as part of the taxes I paid on my tax forms?
    Perito's Avatar
    Perito Posts: 3,139, Reputation: 150
    Ultra Member
    		  
    #2

    Apr 4, 2009, 08:30 AM

    Wouldn't that be nice?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Apr 4, 2009, 08:57 AM

    Yes, you count it as part of taxes you paid.

    You will report 401K withdrawal as income and attach form 5329.
    Read Your U.S. Tax Return: Elective Deferrals 401(k) Plans
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