@kpjoz66 wrote:
When you said 30%, would that be Federal AND State total, or just Federal?
A 401(k) is taxed as ordinary income. The amount of Federal tax depends on what your marginal tax rate might be (usually the tax bracket that your will be in). That depends on all of your other taxable income in addition to the 401(k) distribution.
Without knowing all of your other income, and tax rate, there is no way to give an accurate answer.
State tax will be additional depending on the state tax rates.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
