FaithY
Expert Alumni

Get your taxes done using TurboTax

You aren't being taxed again, your 401(k) withdrawal, including the taxes already paid, are being included on your tax return. You will enter the 401(k) withdrawal (1099-R) on your tax return and that includes the 20% tax and the 10% penalty that was withdrawn from your 401(k) withdrawal. The taxes you already paid will be included in your tax return calculation.