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April 15, 2024
Question

Can I be taxed again if I withdrew my money from my 403(b) and federal tax with withheld from it.?

  • April 15, 2024
  • 1 reply
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Am I getting taxed again on my withdrawal of my 403 (b)?

1 reply

Employee
April 15, 2024

You might not have had enough taxes withheld to cover your total tax liability. The withholding on a retirement distribution functions similarly to the withholding on a W-2. 

 

It's just an estimate of what you will owe on that amount, but the total tax liability depends on other income items on your return.

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