- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
You didn't actually necessarily pay the taxes in their entirety when you took the withdrawal. There was withholding on the withdrawal, just like their is on a W-2 - it is an estimate of the taxes that you owe. As Linda said, you will owe a 10% early distribution penalty on that withdrawal, plus ordinary income taxes. You will be credited for the amount withheld from the withdrawal.
‎June 5, 2019
10:18 PM