topic If I took a distribution from my 401K with the 20% withheld, then deposited the 80% in a traditional IRA within 60 days, do I pay a penalty and / or tax? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/if-i-took-a-distribution-from-my-401k-with-the-20-withheld-then-deposited-the-80-in-a-traditional/01/1348436#M97033 Sun, 22 Mar 2020 20:29:54 GMT loririchardson-l 2020-03-22T20:29:54Z If I took a distribution from my 401K with the 20% withheld, then deposited the 80% in a traditional IRA within 60 days, do I pay a penalty and / or tax? https://ttlc.intuit.com/community/retirement/discussion/if-i-took-a-distribution-from-my-401k-with-the-20-withheld-then-deposited-the-80-in-a-traditional/01/1348436#M97033 Sun, 22 Mar 2020 20:29:54 GMT https://ttlc.intuit.com/community/retirement/discussion/if-i-took-a-distribution-from-my-401k-with-the-20-withheld-then-deposited-the-80-in-a-traditional/01/1348436#M97033 loririchardson-l 2020-03-22T20:29:54Z Re: If I took a distribution from my 401K with the 20% withheld, then deposited the 80% in a trad... https://ttlc.intuit.com/community/retirement/discussion/re-if-i-took-a-distribution-from-my-401k-with-the-20-withheld-then-deposited-the-80-in-a-trad/01/1348542#M97042 <P>Yes, you will pay tax and penalty on any amount that was not rolled over, even if the amount was the 20% withheld for taxes.&nbsp;</P> <P>&nbsp;</P> Sun, 22 Mar 2020 20:53:54 GMT https://ttlc.intuit.com/community/retirement/discussion/re-if-i-took-a-distribution-from-my-401k-with-the-20-withheld-then-deposited-the-80-in-a-trad/01/1348542#M97042 AlanT222 2020-03-22T20:53:54Z