I am under the age of 59.5. I have spoken to a rep about this. I was told that I am eligible to withdraw 1200 without penalty because that is the amount I contributed. However, I need to withdraw more than that, so I am aware that I will get hit with the 10%.
However, upon making the amount I need to withdraw, I went on the second of my fidelity and it's asking me how much I would like to withhold for State and how much would I like to withhold for Federal. my options were 0% and custom %.
I'm not sure how much I'm supposed to do for each. I do live in Utah and I am not currently working and I'm not retired either. Fidelity is not authorized to give out tax advice so I am here hoping someone will help me with this. Thank you in advance.
