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-   -   Taxes on 401k (https://www.askmehelpdesk.com/showthread.php?t=309916)

  • Jan 28, 2009, 02:40 PM
    TIGGER344
    Taxes on 401k
    I closed out a 401k in the amount of $3000 at what rate should I be taxed at. I am 64 years old
  • Jan 29, 2009, 11:05 AM
    AtlantaTaxExpert
    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.

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