kevmoral
New Member

I took a $9776 early withdrawal out of my retirement IRA. Knowing that I would have to pay taxes and penalties I withheld 35% of that 25% tax + 10% for early withdrawal.

I input all of that info into TurboTax and now it is telling me that I owe an extra 10% of $978? That means I paid a total of 45% on taxes and penalties, that seems way too high. Will the government catch this error and give me my 978$ extra back?