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Retirement tax questions
See this IRS website for hardship withdrawals - <a rel="nofollow" target="_blank" href="https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-hardship-distributi...>
As stated if you make the withdrawal it is taxable and added to your other income on your tax return. If you are not eligible for the exemption for an early withdrawal you will also incur a 10% early withdrawal penalty assessed on your tax return as a tax liability.
As stated if you make the withdrawal it is taxable and added to your other income on your tax return. If you are not eligible for the exemption for an early withdrawal you will also incur a 10% early withdrawal penalty assessed on your tax return as a tax liability.
‎June 5, 2019
11:21 PM