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How much will I owe in taxes from taking 20000 dollars from my 401k

 
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How much will I owe in taxes from taking 20000 dollars from my 401k

No way to know.  You have to enter it into your tax return to see.

 

If you take a Withdrawal it is taxable on your return and may push you into a higher tax bracket and more income can reduce or eliminate some credits you may qualify for.  So be careful.  Then there is a 10% Early Withdrawal Penalty if you are under 59 1/2 or under 55 if you left that job.

 

They probably will take out a set amount of withholding like 10%.  That may or may not cover the increase in tax on your total income.

How much will I owe in taxes from taking 20000 dollars from my 401k

and remember State taxes as applicable.

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