retirement fund withdrawals are usually taxed as
If you received a taxable withdrawal from a retirement plan such as a 401(k) plan, federal income taxes are typically withheld at a rate of 20 percent.Make sure to include the taxes that are reported in this box on your tax return on line 64, federal income tax withheld from Forms W-2 and 1099.illions of individuals took withdrawals from their IRAs, 401(k)s, pensions and other types of retirement accounts in 2014. When you do this, you need to know how to report these distributions on your tax return.