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    allenbig's Avatar
    allenbig Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jan 15, 2011, 03:56 PM
    401K withdrawl
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    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.
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