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Retirement tax questions
I pre-paid the 10% federal tax and 5% state tax on my covid-19 withdrawal because i knew i could not repay the amount back to my 401 but TT shows I owe a large sum to both fed and state. My WI forms give me a large penalty multiplier of .33 of my prepaid federal tax. Why is that? I thought the penalty did not apply? Will the WI TT be adjusted with a future update? Help.
March 11, 2021
6:40 PM