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Retirement tax questions
You will receive a 1099-R early next year, and you absolutely have to enter this in your 2024 tax return (assuming you did this after Jan 1, 2024).
And note that the penalty and the withholding don't necessarily cover the tax due from this event. I encourage to create a test return and enter the probable data for 2024 to see how it affects your tax bill.
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‎February 23, 2024
10:48 AM