Are you gong to be older than 59 1/2 when you do this? If not, you will also be subject to a 10% early withdrawal penalty plus ordinary income tax. The custodian of the account will withhold tax just like you have tax withheld from your paychecks, When all of your income is entered into your tax return TT will calculate your tax due or refund.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
