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    julieliz's Avatar
    julieliz Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 7, 2007, 02:55 PM
    401 k taxation and forms
    I left my job in GA in March 2006 and cashed in my 401K... moved to AL and didn't work until November and cashed in pension. My total income does not put me in a different tax bracket. Will I still owe taxes and how do I file this? 2 different states, different jobs, etc..
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Mar 8, 2007, 03:51 PM
    You will PROBABLY owe taxes.

    The 20% withheld usually does not cover the taxes owed on a 401K withdrawal.
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