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Category: Finding Deductions

Calculating my deduction for an Early Withdrawal Penalty

The Form 1099-INT or Form 1099-OID you received will show the amount of any penalty you were charged.

You can locate your penalty on Form 1099-INT in box 2 and on Form 1099-OID located in box 3. If you have received more than one form you can add the different amounts to get the total penalty that you were charged.