My early withdrawal was taxed at the time of the withdraw and I was advised there would be no additional tax/penalty at tax time but appears I'm being triple taxed why?

Why would be early withdrawal 1099-R be taxed x3?

posted

The trustee is REQUIRED to withhold 20%, but the tax is not determined until you file your annual tax return. In addition, if an exception does not apply, you pay an additional 10% in penalty. That being said, it does not sound like it should be taxed at X3- can you provide more details?

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