Will the $14,000 tax penalty I will be assessed in 2019 bump me up into another income bracket? Trying to assess how much I need to increase my 404b contributions by before year end
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https://taxfoundation.org/2018-tax-brackets/
Remember state taxes as well.
the $14,000 is included in taxable income. in addition there is an unavoidable 10% for early withdrawal if you're under 59 1/2.
so it would seem you need to increase the 403b contribution by $14,000 to avoid the regular income taxes. however, you need to talk to you plan administrator to see if this is possible.
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