Solved: I was at a job for short time & chose to receive early distribution for full amt of 401k, is my "basis" the full amount of distribution? Fed & State taxes were taken out.
I was at a job for short time & chose to receive early distribution for full amt of 401k, is my "basis" the full amount of distribution? Fed & State taxes were taken out.
I was at a job for short time & chose to receive early distribution for full amt of 401k, is my "basis" the full amount of distribution? Fed & State taxes were taken out.
Your basis is any after-tax dollars that you contributed to the plan.
Most people don't contribute after-tax dollars to retirement plans (although they could), so your basis is probably zero or none.
I was at a job for short time & chose to receive early distribution for full amt of 401k, is my "basis" the full amount of distribution? Fed & State taxes were taken out.
Your basis is any after-tax dollars that you contributed to the plan.
Most people don't contribute after-tax dollars to retirement plans (although they could), so your basis is probably zero or none.
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