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After leaving my job last year, I decided to cash my 401k out to pay off some bills. I was taxed on it and all that good stuff, but does anybody know what do I claim it as on my income taxes? As income? And if so do I just add it to the rest of my W2s?

Thanks for any help with this income tax quandary.
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No. of Recommendations: 2
After leaving my job last year, I decided to cash my 401k out to pay off some bills. I was taxed on it and all that good stuff, but does anybody know what do I claim it as on my income taxes? As income? And if so do I just add it to the rest of my W2s?

You should have received a 1099-R for the distribution. See the insructions for the 1040, lines 16, 54, and 58.

Phil Marti
VITA Volunteer
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