Comments for 401 Lump Sum Distribution Income Tax Question

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Mar 29, 2011
401k Distribution
by: Stephanie


Thank you for the question.

401k distributions are reported on federal form 1040 on line 16a and 16b (Pensions and annuities). The federal tax withheld is reported on line 61, (Federal income tax withheld). You may also owe additional early withdrawal penalties that are reported on form 5329 which then flows to form 1040 line 58 (Additional tax on IRAs, other qualified retirement plans, etc)

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