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Retirement tax questions
Yes, to avoid paying tax on the distribution this year you need to repay the entire distribution. Other than that, you will pay at least some tax this year.
You can pay all the taxes this year and avoid the taxes in the future years.
If you pay back some of the distribution that will reduce the total distribution. Which you could then spread that reduced distribution amount over the three years reducing the tax this year.
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March 9, 2021
10:12 AM