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No, this amount has already received a tax benefit as it is not included in your Box 1 wages. However, it will be taxable this year on your state return. When you withdraw the funds, they will be taxable on your Federal return, but not on your state return.
No, this amount has already received a tax benefit as it is not included in your Box 1 wages. However, it will be taxable this year on your state return. When you withdraw the funds, they will be taxable on your Federal return, but not on your state return.
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