It is doubtful you will owe any more tax on it. They withhold 20%, so unless your tax bracket is more than 20%, the withholdings should cover the tax. This is assuming the distribution was covid-related. If so, you don't have to pay the 10% penalty. You can also choose to spread the regular tax over 3 years.
Those who qualify as individuals directly impacted by the pandemic will be able to withdraw up to $100k from their retirement accounts without facing the 10% early withdrawal penalty.
You qualify if:
- You, your spouse, or your dependent are diagnosed with COVID-19
- You experience adverse financial consequences as a result of being quarantined, furloughed, or laid off
- You had work hours reduced to COVID-19
- You’re unable to work due to child care closure or hour reduction
The distribution would be taxed over 2020, 2021, and 2022. You’ll have that time to pay back the funds you withdrew, without the amount impacting that year’s cap on contributions, and if you pay back the amount within that time, you’ll be able to claim a refund on those taxes. @Iamlanh
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