Since money was withheld from my 401(k) distribution, do I have to include that money as income. Do I pay the 10% early withdrawal fee as well?
Yes, you need to include in income the total amount of your 401(k) distribution. In addition, if you took the distribution before reaching age 59 1/2, you will need to pay a 10 percent additional tax on early distributions from qualified retirement plans, unless you meet the exceptions in Publication 590 , Individual Retirement Arrangements (IRAs) (Including Roth IRAs and Education IRAs). Return to index . . .
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- Since money was withheld from my 401(k) distribution, do I have to include that money as income and do I pay the 10% early withdrawal fee as well?
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- Since money was withheld from my 401(k) distribution, do I have to include that money as income. Do I pay the 10% early withdrawal fee as well?
