I want to take 46,000.00 from my 401K. I want to withdrawl this amount to purchase a home. I know this is not the smart thing to do, however I need the money, in order to purchase the home. I believe my plan will withhold 10% for federal taxes, and I also believe I will need to pay a 10% penalty. How much of the 46K will I likely received, after all the deductions?