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The taxable amount of the withdrawal reported on Form 1099-R box 2a will be entered on your federal tax return as ordinary income and taxed at your current tax rate.
do you need the money and want to be taxed. there may be an option to roll the money into another retirement plan to avoid taxation. if it's been less than 60 days since receiving the pension, an option would be to put the money into an IRA to escape taxation
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