Hello, my wife and I took a $23,000 withdrawal from my 401k because of covid. The 10% early withdrawal tax was waived because of the pandemic, and I had 10% ($2,300) withheld for taxes at the time of the distribution.
After importing this info into turbotax, it's saying I still owe an additional $5137. What's going on here? That seems extremely high. That would mean I'm paying $7437 in taxes on $23,000.
I'm assuming its not taking in the 10% withdrawal fee that was waived, but it still seems high.
Anyone else have this issue?
