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New Member
posted Jun 6, 2019 1:32:56 AM

Approximately what are the state and federal taxes in California for early withdraw from an Ira in per centage?

0 2 518
2 Replies
Level 15
Jun 6, 2019 1:32:56 AM

It is taxed as ordinary income at your tax rate and may push you into a higher tax bracket.  Then the federal has a 10% Early Withdrawal Penalty unless you have an exception to the penalty.   I think California is 2% penalty.

Expert Alumni
Jun 6, 2019 1:32:58 AM

If you do not qualify for any exceptions, Federal charges a 10% early withdrawal penalty and California charges a 2.5% early withdrawal penalty. This is on top of federal and state income tax.