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Retirement tax questions
Sorry-----when you put money into that 401k it was money that was never taxed to begin with. It was not taxed by the feds and not taxed by IL . You have never paid tax on that money. You start paying tax on money from a retirement account when you retire and start taking the money OUT. But if you are having too much trouble understanding that, then having a paid tax professional explain it to you is a good idea.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎January 22, 2022
8:07 AM