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Retirement tax questions
If you only rollovered only the net amount after withholding into the Roth IRA, then the amount of the tax withheld is considered as a withdrawal and is subject to the early withdrawal penalty of 10% as you are under 59 1/2.
So you will pay income tax on the total amount and the penalty on the amount of tax withheld.
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March 19, 2020
12:20 PM