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Retirement tax questions
A distribution from a retirement plan is a withdrawal. When a taxpayer takes a distribution, he or she receives a 1099R form to file on their tax return. A taxpayer, under age 59 1/2, will owe income tax and a 10% penalty for taking a distribution. For more information about retirement account distributions, please view the Turbo Tax FAQ below.
May 31, 2019
9:41 PM