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I did not roll my 401K from my last employer. I have a little over $3,000 in the account. How much will I have to owe when filing my taxes if I decide to withdraw?

 
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I did not roll my 401K from my last employer. I have a little over $3,000 in the account. How much will I have to owe when filing my taxes if I decide to withdraw?

If you are younger than 59 1/2 you will pay a 10% early withdrawal penalty plus ordinary income tax at the rate for whatever tax bracket you are in. You will get a 1099R in January that will need to be entered on your tax return. 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Anonymous
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I did not roll my 401K from my last employer. I have a little over $3,000 in the account. How much will I have to owe when filing my taxes if I decide to withdraw?

no one can tell you what your actual taxes would be, ignoring the penalty because that will depend on your taxable income.   you can use TT taxcaster to get an estimate of the taxes, but i don't think the penalty would be included if it applies.   

 

another way if you have an idea of what your taxable income would be is to look at the tax rate schedule for 2019

https://www.troweprice.com/personal-investing/planning-and-research/tax-planning/prepare-your-taxes/...

 

again this doesn't include the penalty

 

if your state has individual income taxes,  it might be taxed or it might be exempt. 

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