Retirement Withdrawals or Distributions

Often, people forget that they withdrew some money from their 401K, or other retirement account.  Making a withdrawal is called "taking a distribution."  This distribution amount is generally considered income unless you rolled it over from one retirement account to another.  If you received money, it will generally be considered income.  In many cases, the financial institution will withhold 20% of the amount you withdraw, with the intent that, that amount should cover the taxes, and if that were your only income it could possibly be enough, however,