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Retirement tax questions
If someone under 59 1/2 takes early withdrawl from 401K in 2020 but will be paying it back over next 3 years do they still have to pay taxes on the amount withdrawn on their 2020 tax return and then claim a refund for the taxes when repaid? Assume that the penalty will not be assessed since was part of Trump declaration? Is there any way to not have to pay taxes on the amount withdrawn on their 2020 return?
May 9, 2021
10:00 AM