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Retirement tax questions
When tax was withheld from the distribution that was just an estimate---much like when your employer withholds tax from your paychecks and puts the amount on your W-2. When you prepare and file your tax return, you enter the amount of income and the amount of tax withheld, and the software reconciles whether you owe more or get a refund. You are not being taxed twice on the retirement distribution.
**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.**
‎April 3, 2024
2:06 PM