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hondo368
Sep 23, 2007, 08:29 AM
if i decide not to roll over my 401k what will the tax % and penalty % be?
AtlantaTaxExpert
Sep 25, 2007, 08:46 AM
You will pay taxes (state and federal) at the tax rate you are paying on the LAST dolar you earn in 2007, PLUS a 10% Early Withdrawal Penalty.

The total tax rate could hit 50%.

BOTTOM LINE: DO NOT DO IT!!