I am following this feed but I have an additional question...I had excessive medical expenses this year due to being on COBRA after furlough/elimination of my job so that is one reason that I made the withdrawal. When I answer the questions on the 401 K early withdrawal section of Turbo Tax, it tells me that I do not have to pay taxes since the withdrawal is used for medical expenses. I already payed 20% when I withdrew the funds. I assume this is added to my tax contributions for the year. Will I still have to pay this back in 3 years or pay taxes later?
Thanks for clarifying!
