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New Member
posted May 31, 2019 7:17:10 PM

How much tax is owed if you withdrew $ 70,000 on an inherited 401k and you had $0.00 income for the year

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1 Best answer
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
Level 15
May 31, 2019 7:17:12 PM

Tax depends on your filing status and your available deductions.

New Member
May 31, 2019 7:17:13 PM

Filing Single, zero deductions, no one can claim me as a dependent and no income.

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

Level 15
May 31, 2019 7:17:17 PM

and remember State taxes as well.

Level 15
May 31, 2019 7:17:19 PM