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New Member
posted Jan 28, 2021 5:09:25 PM

It’s taxing me additionally on my 401k withdrawal. I withdrew due to the cares act and thought I wouldn’t have to pay additional? Help pleaseeee

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1 Replies
Level 15
Jan 28, 2021 5:30:35 PM

First of all, the withdrawal is taxable, so you might not have had enough withheld.  However, there is no 10% penalty, but the IRS has not yet released the form that handles that, and we don't know when they will.