Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
S
seabelle66
April 8, 2025
Question

I have a 1099-R for early Roth Ira withdrawal. There is 10% penalty which was already deducted (box 4) but I'm getting another 10% on my Turbo Tax Federal filing. Why?

  • April 8, 2025
  • 1 reply
  • 0 views
I'm trying to understand why there is another 10% I'm being charged when I had the company withdraw the 10% Penalty fee BEFORE I got the payment!

1 reply

B
Bsch4477
April 8, 2025

The amount withheld in box 4 will be deducted from your tax liability which zeroes out your penalty 

TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsCookie settingsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification