cmgfilms1
New Member

My 1099-R form shows 20% was withheld for taxes yet I'm being taxed another 10% of the gross distribution now as I attempt to file for 2016. I don't get this, any help?

Long story short: I purchased a home and my lender was atrocious at communicating dates and details. With 24 hours to spare, I was informed they needed my down (which was supposed to come from a loan I was going to get against my former employer's 401K), so I was forced to close the account in order to meet the deadline. (My investment company otherwise needed 15 days to process.)