401k distribution
I took out a distribution from my 401k retirement account with the COVID Relief bill. I paid the taxes when I took it out. It said I had 3 years to pay the taxes.
Since I paid the taxes when I took it out, do I still have to report it?
Terry Says
You have to report the withdrawal, and the taxes withheld are reported on a separate line. If you pay back the entire amount within the three years from date of withdrawal, you can ask for a refund of taxes paid.
