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kendebmueller
New Member

Is there a chart to show the amount of taxes that are owed for your income? We are planning to take money out of our 401K and would like to know what we would owe.

 
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MichaelDC
New Member

Is there a chart to show the amount of taxes that are owed for your income? We are planning to take money out of our 401K and would like to know what we would owe.

This is a good tool. Make sure you account for a possible 10% penalty if you are under 59-1/2.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Also, here's a "chart" (attached below) that you may have been referring to. It's the tax rate schedules from the IRS. Look up your income according to your filing status -- a little cumbersome and sometimes confusing.

Please feel free to post any additional details or questions in the comment section. 

View solution in original post

1 Reply
MichaelDC
New Member

Is there a chart to show the amount of taxes that are owed for your income? We are planning to take money out of our 401K and would like to know what we would owe.

This is a good tool. Make sure you account for a possible 10% penalty if you are under 59-1/2.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Also, here's a "chart" (attached below) that you may have been referring to. It's the tax rate schedules from the IRS. Look up your income according to your filing status -- a little cumbersome and sometimes confusing.

Please feel free to post any additional details or questions in the comment section. 

View solution in original post

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