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Asked 1/24/2008
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How do I file 401k distributions How do I file my 401k distribution. I had 20% witheld in fed tax. Where does it go on the form etc. |
Answer 1/1 - Submitted 10/26/2011
You will get a form with your distribution that indicates the amount of federal tax withheld.
This will be added to the withholding section on your tax return when you file so that you will not have to pay that tax again. The amount of your distribution will also be noted as taxable income.
The difference between that 20% and your actual tax rate will be calculated as part of your return, so you might get some of that back or have to pay more at tax time.
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