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    lfebre's Avatar
    lfebre Posts: 1, Reputation: 1
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    #1

    Sep 1, 2007, 07:22 PM
    401k early withdrawl
    What are the penalties for early withdrawl of 401k in Florida
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Sep 1, 2007, 07:47 PM
    You will have to pay the 10 percent penalty plus all taxes on the money.
    You can expect to have to pay 30 to 40 percent total for taxes and penalty. ** Depending on your total income and tax level
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Sep 4, 2007, 09:47 AM
    Fr Chuck covers all the pertinent issues.

    My only comment is DO NOT DO IT!
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