I'm inheriting 2 separate 401K plans from a deceased family member. I'm a non-spousal beneficiary.
The 1st 401K plan is a traditional pretax 401K with about $30K.
The 2nd plan contains both pretax 401K & Roth 401K funds. The pretax funds are $5K and the Roth 401K funds are $100K.
I wanted to find out what the taxes will be for federal and state (GA) for cashing out these two 401K plans?
Is there a 10% early withdrawal tax for cashing out these plans as a non-spousal beneficiary?
The original owner of the plans passed away before they turned 59 years old and I'm also younger than 59 years of age.
Will the Roth 401K portion of the funds be taxed and counted as income or this only applies to the pretax portion of the 401K funds?
Thanks
