Boy, glad I found this feed. Been considering a withdrawal due to $7,500 in loan debt I have to pay, but have been without a job for three months (competitive career field).
Say for example, if I did do a withdrawal of $11K, I get a federal tax of $2,200 due (since I'm in the 15% bracket right now), and $660 due for state tax (6% in OR), and then $1,100 due for the early withdrawal fee....
Now, when the withdrawal happens, are those amounts automatically withdrawn when I do the withdrawal, or do I need to pay those on my 2018 return?
And if the latter, do I need to put those amounts aside to pay off when that return happens? Meaning, could I put those amounts noted into a savings account (for example), and then have them ready to withdraw, so that they can be paid off?
