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Retirement tax questions
You had taxes withheld from the withdrawal. The penalty is only assessed on your tax return. The distribution is entered on your tax return as ordinary income and is included with any other income you have reported, all taxed at your current tax rate. The taxes withheld from the distribution are included with any other taxes you had withheld and entered on your tax return as a tax payment.
‎June 4, 2019
9:13 PM