You don't pay 20% tax they withhold 20% and at the end of the year you'll add all that money to your ordinary income and pay whatever taxes your particular situation requires but converting is a useless step as you could roll it to a tira and withdraw from that with no withholding or penalty assuming by age met you mean 59.5 but you then risk under withholding and getting penalized for that.
Statistics: Posted by placeholder — Thu May 30, 2024 1:04 am — Replies 3 — Views 199