Yes I am trying to figure out how much taxes to hold back on a 401k C19 related early withdraw also. I found out my fund can withhold federal taxes BEFORE giving me my portion so this helps with paying the tax.....but how much to hold back? The chart here seemed helpful but not sure if this is implying the withdraw amount ONLY? If so, let's say I'm planning to take out 5k, then should I hold back 10% (will file married filing seperately). Thank you!
https://www.bankrate.com/finance/taxes/how-are-401k-withdrawals-taxed.aspx/amp/
And then I'm trying to decide if paying all the tax up front for 2020 in 2021 makes the most sense OR spread the withdraw tax over 3yrs makes more sense on the 401k withdraw portion?.....thank you!
