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June 1, 2019
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How much tax will I pay if I cash out my 401K?

  • June 1, 2019
  • 1 reply
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Best answer by SweetieJean

That depends upon your age, filing status, the amount and your overall tax picture. Try this Federal tool, and also remember state taxes.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

1 reply

June 1, 2019

That depends upon your age, filing status, the amount and your overall tax picture. Try this Federal tool, and also remember state taxes.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

June 1, 2019
Should the distribution be an early distribution not covered by an exception, note that TaxCaster does not factor in early-distribution penalties which are 10% of the taxable amount distributed.