How much tax is owed if you withdrew $ 70,000 on an inherited 401k and you had $0.00 income for the year
051902
1 Best answer
Hal_Al
Level 15
May 31, 2019 7:17:14 PM
Worst case, $10,700. More if you are somebody's dependent. But that's based on a LOT of assumptions about your situation that you haven't provided. The taxcaster link provided is your best source of an answer
5 Replies
fanfare
Level 15
May 31, 2019 7:17:12 PM
Tax depends on your filing status and your available deductions.
greggrbarton
New Member
May 31, 2019 7:17:13 PM
Filing Single, zero deductions, no one can claim me as a dependent and no income.
Hal_Al
Level 15
May 31, 2019 7:17:14 PM
Worst case, $10,700. More if you are somebody's dependent. But that's based on a LOT of assumptions about your situation that you haven't provided. The taxcaster link provided is your best source of an answer