Hmm...
So this is what I want to know. If I withdraw 401k, it counts as my income, right?
For example, assuming withholding the due taxes, if I withdraw a total of $15000 ($2500 x 6) until Dec., does it simply add to my other income and get taxed when I file the tax returns next year? Or do I pay for the taxes on this 401k withdrawal and, seperately, on my total incomes including the 401k withdrawal?
