Hal_Al
Level 15

Retirement tax questions

"I have already had taxes removed" is not a correct statement. What you had withheld was only an estimate of the tax due. No piece of income (e.g. a withdrawal from a 401k) is taxed in isolation from your other income. You report all your income, at tax filing time. You also report all your withholding (& other estimated payments) to determine whether you pay more tax or get a refund.