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The withholding is an estimate of what the tax might be. There is no way to know for sure until all your income is added together. It is the same thing as your W-2. The tax that was withheld goes toward the payment of all your tax owed. Premature distributions, as well as being taxed, have a 10% penalty. The exception for first home is only for the IRA, not a 401k.
The withholding is an estimate of what the tax might be. There is no way to know for sure until all your income is added together. It is the same thing as your W-2. The tax that was withheld goes toward the payment of all your tax owed. Premature distributions, as well as being taxed, have a 10% penalty. The exception for first home is only for the IRA, not a 401k.
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