Paul_W1
Expert Alumni

Get your taxes done using TurboTax

Hi LuvMyBugs

 

You will receive a 1099-R with the distribution in Jan 2023.  As far the tax calculation, turbo tax can calculate all the income.  Based upon your information, you are providing just the 401k.  If there are other income to report then the total income will need to be reported.  Fyi, 20% is the IRS default for all tax withholding from 401k accounts.  This link below called taxcaster can provide an estimator of refund or balance due for 2022.  Hope this helps.  Happy holidays.

 

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

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