We took a hardship withdraw from the 401K. we were told there should be no penalties. We took out just over $300,000.00 and had federal taken out. We took the money to purchase land to build our primary residence. Now when I put the info from the 1099R it showed we owed $80,000 in federal taxes now. We can not pay that. I must have entered something wrong. Freaking out over here!
