Retirement tax questions

There is a 10% penalty on ALL withdrawals, unless an exception applies.   

 

There is still the normal income tax to contend with. 

 

Figure the tax is the withdrawl times (your tax bracket+10%).  

 

see this list for possible exceptions. 

 

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-o...