Enter your withdrawal amount, age, and tax rates to estimate the additional 10% penalty and projected net amount after taxes.
For many people, taking money out of a traditional 401k before age 59½ can trigger both ordinary income taxes and an additional 10% federal penalty.
This tool estimates a traditional 401k early withdrawal by applying an optional 10% penalty and estimated federal and state income tax rates.
In many cases, a traditional 401k withdrawal before age 59½ may trigger an additional 10% federal penalty unless an exception applies.
Traditional 401k withdrawals are generally taxed as ordinary income. State taxes may also apply depending on your circumstances.
No. This is a simplified estimate intended for planning purposes. Real tax treatment can depend on exceptions, account type, withholding, and other factors.