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Will my 10% 401k early withdraw penalty be able to be taken out of my Federal Tax refund?
For example: If I took an early withdraw of $5,000 from my 401k and paid the appropriate taxes at time of withdraw, but still owed the $500 10% early withdraw fee, will TurboTax be able to withhold that from my federal tax return? So If I was due to get a $1000 tax return, I would be able to pay that fee with the $1000 return and only receive $500? Or would I need to pay that separately out of pocket?
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May 31, 2019
7:09 PM