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Retirement tax questions
From Frequently Asked Questions - ScholarShare 529:
How are withdrawals for nonqualified expenses taxed?
The earnings portion of a non-qualified withdrawal is subject to federal income taxation, and an additional 10% federal tax. For California taxpayers, the earnings portion of a non-qualified withdrawal may also be subject to California income tax and an additional 2.5% tax. See the Plan Description for details.
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‎April 15, 2024
4:35 PM