View Full Version : 401K withdrawal
allenbig
Jan 15, 2011, 03:56 PM
I am 61 years old. I withdrawed $146,371.00 from my 401K they took out $29,274.00. My question is how much more will I have to pay?
ScottGem
Jan 15, 2011, 04:02 PM
That depends on your total income for the year. The $146K will be added to your taxable income for the year. An amount like that could push you into a higher bracket. So complete your return to figure out what your total taxes would be.
AtlantaTaxExpert
Jan 15, 2011, 09:18 PM
Scott's answer covers everything.
To give you an accurate estimate of your tax liability, we need a complete picture of all taxable income.