How do I income tax?
Living in New York, considering withdrawing my money from my TSP account which makes it taxable. They withhold my Federal Income Tax but it is up to me to take care of NY State.
Is this something I need to take care of when I receive the money, or do I have to just set some aside and pay it when tax season rolls around? I would rather take care of it now as I hate owing any organization larger than my parents money.
Odd. Pretty shure you do have to hand the Tax form they give you at end of year and then pay your state.
I take out loans from my 401k every now and then, and they always warn me if I default, they will give me the Tax form to me to declare it income, and its my ***.
So I think you have to File it on taxes time and then pony up. >_<