After penalty's and taxes how much money would I have left over from $60,000 from my early 401K retirement withdrawl?
![]() |
After penalty's and taxes how much money would I have left over from $60,000 from my early 401K retirement withdrawl?
There is no way for us to know. If you took out $60K at least $6K would go towards the 10% penalty. The rest of your cost will depend on how it affects your taxable income for the year. The whole $60K will be added to your income and then taxes will be calculated. Its possible the $60K will bump you into a higher bracket increasing your tax liability.
All times are GMT -7. The time now is 01:57 AM. |