techguy
New Member

Retirement tax questions

Right.  I think I received some bad advice - because I didn't know to re-deposit the money within 60 days, so now I'll be taxed and likely penalized on the withdrawal amount on my 2017 return.  I'll just have to make as many estimated tax payments as I can in the remainder of 2017 to try to minimize the penalty.  Do you know if I just assume 20% of my withdrawal amount would be safe for tax payment? Plus whatever penalty the IRS would impose...