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Retirement tax questions
Hi - I am referring to something different here, sorry if my initial question was not clear.
I took the $1,000 Penalty free from my 401(k) distribution as allowed per the secure act 2.0. As part of this the act you can repay it within 3 years to avoid paying taxes on it. The IRS then treats it like a My company provided me the payback form to submit the check but I am trying to understand if there is a specific tax form to avoid the income tax since it is being repaid.
"Participants generally have up to 3 years to repay the Emergency Expense Withdrawal to avoid paying income taxes on the amount withdrawn."
Since this is so new, I am having a hard time finding details.
‎February 13, 2025
12:45 PM