stephjerryj asked:
one to have some money to fall back on. She was told she will have to pay 20% taxes plus another 10% penalty for early withdrawl. My question is, will she be 1099′d on this money if she already paid the taxes on it?
Christopher
one to have some money to fall back on. She was told she will have to pay 20% taxes plus another 10% penalty for early withdrawl. My question is, will she be 1099′d on this money if she already paid the taxes on it?
Christopher
The 20 you refer to is apparently withholding her actual final tax wont be determined until she files next years tax return.
Comment by src50 — December 8, 2007 @ 5:19 am
The amount withheld as tax and might be more or less than what she actually owes or less than what she is under age 5912.
The taxes that are withheld are withheld are just withholding and what she owes or should have refunded the amount withheld are just withholding and will then calculate her tax return and the taxes that are just withholding and will then.
Comment by Judy — December 10, 2007 @ 5:37 pm
The money will have less income so she should withdraw in the year she should withdraw in the year she will have less income so she should withdraw.
Comment by Jss — December 12, 2007 @ 9:17 am