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-   -   What is the state tax % for 401k withdrawal in Colorado? (https://www.askmehelpdesk.com/showthread.php?t=542927)

  • Jan 11, 2011, 09:34 AM
    hphappy1963
    What is the state tax % for 401k withdrawl in Colorado?
  • Jan 11, 2011, 09:38 AM
    ScottGem

    The proceeds of a 401(k) withdrawal are added to your taxable income for the year. So how taxes you owe depends on your total taxable income. You will still owe the 10% federal penalty.
  • Jan 11, 2011, 09:47 AM
    AtlantaTaxExpert
    Colorado will tax the distribtuion as ordinary income, with NO penalty like the federal return. As ScottGem said, the percentage depends on your overall income.

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