1487414
You'll need to sign in or create an account to connect with an expert.
Distributions from your 401(k) account are taxable at your normal tax rate without exception.
As you are over age 59 1/2, these distributions are not subject to the early withdrawal penalty of 10%.
Your tax break is the Standard Deduction of $12,200.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ajm2281
Returning Member
waynelandry1
Returning Member
Lukas1994
Level 2
jigga27
New Member
branmill799
New Member