TIGGER344
Jan 28, 2009, 02:40 PM
I closed out a 401k in the amount of $3000 at what rate should I be taxed at. I am 64 years old
AtlantaTaxExpert
Jan 29, 2009, 11:05 AM
You will be taxed at your marginal tax rate (the tax you pay on the last dollar earned in the calendar year).
No 10% Early Withdrawal Penalty due to your age.
All things considered, probably at 15%, which is $450.