I was at a job for short time & chose to receive early distribution for full amt of 401k, is my "basis" the full amount of distribution? Fed & State taxes were taken out.

js6 · ‎June 4, 2019

BMcCalpin · ‎June 4, 2019

Your basis is any after-tax dollars that you contributed to the plan.

Most people don't contribute after-tax dollars to retirement plans (although they could), so your basis is probably zero or none.

I was at a job for short time &amp; chose to receive early distribution for full amt of 401k, is my "basis" the full amount of distribution? Fed &amp; State taxes were taken out.