turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

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

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.
MinhT
Expert Alumni

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

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies