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Retirement tax questions
The 10% that you "paid" was just withheld from the distribution, like when you have federal tax withheld from your paychecks. If you are under 59 1/2 there is a 10% early withdrawal penalty and there may be ordinary tax on the distribution too. When all of your income and all of the tax withheld from your various sources of information are entered into the program, your tax due or refund will be calculated.
**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 1, 2025
7:47 PM