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State tax filing
See How do I view and delete forms in TurboTax Online?
When you take all of your money out of a tax-advantaged retirement plan, you'll typically have to pay taxes on your withdrawal, just as if it was ordinary income. If you have a large retirement plan balance, taking a lump-sum could trigger significant tax consequences. However, IRS Form 4972 allows you to claim preferential tax treatment if you meet a series of special requirements.
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March 11, 2022
3:24 PM
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