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Asked 1/29/2009

How do i report income of a closed 401k

Closed a 401k last year and paid the 20% tax upfront. i need to pay the penalty and any remaining taxes. how do i file that

 
 
 
 
 
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Answer 1/1 - Submitted 1/30/2009

You will receive a 1099 r from the administrator of your former 401(k).
You will need to file that form with your taxes.
This will make the penalty either lower your refund, or increase the amount you owe.

 
 
 
 
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