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Retirement tax questions
You really only had taxes deducted when you got the payout from the 401K.
Now you get a 1099R that has to be on your tax return. It will show the income and also any amounts you already paid in for Federal and State taxes.
Note: If under 59 1/2 there is a 10% Federal penalty for an early withdrawal and the amount is subject to income taxes.
‎June 3, 2019
5:06 PM