I cashed out my 401k for a hardship loan since i was being evicted from my apartment. i used that money to move to my current residance.

[LindaA]

Hardship withdrawals from retirement plans are subject to income taxes and a 10% additional tax on early distributions unless an exception applies.

Please see IRS Retirement Topics - Hardship Distributions and IRS Retirement Topics - Exceptions to Tax on Early Distributions for more information.

[redweaver23]

So I will still have to pay taxes on it even though I already paid taxes on the amount when I took the money out? I only received a certain amount not the full amount on my 1099-R.

[Zbucklyo]

You didn't actually necessarily pay the taxes in their entirety when you took the withdrawal.  There was withholding on the withdrawal, just like their is on a W-2 - it is an estimate of the taxes that you owe.  As Linda said, you will owe a 10% early distribution penalty on that withdrawal, plus ordinary income taxes.  You will be credited for the amount withheld from the withdrawal.

[redweaver23]

oh ok. I read the links she sent too. thanks