A withdrawal from a 401k) is taxable income to be reported on your tax return. Since you are over age 59 1/2 there will not be an early withdrawal penalty.
When you make the withdrawal the plan administrator will withhold 20% of the amount withdrawn for federal taxes.
If you make the withdrawal in 2024 you will receive a Form 1099-R in January or February of 2025. The Form 1099-R is reported on your federal tax return.
