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Retirement tax questions
@rpatel133 wrote:
TurboTax makes my federal tax due go up so high, even if I plan to pay back in 3 years. How can I opted out of this so it does not charge me for my taxes for withdrawal of 401k.
If you elect to pay over 3 years the 1/3 of it is taxed in 2020.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
March 16, 2021
5:57 PM