I am 60 years old and want to withdraw from my 401K. How much should I withhold for federal and MD state tax?

[MichaelL1 · Accepted solution]

This will depend on the income taken out and the other income you have on the return.

I will provide a link to the 2018 tax rates and this will help.

So, for example, I will be in the 22% tax bracket in 2018 so I have them with Federal Taxes of 22% and the state taxes I have 5% withheld.  Note:  This is mine and yours will depend on your Federal tax bracket and the state taxes for where you live. 

Tax bracket for 2018:  https://turbotax.intuit.com/tax-tips/irs-tax-return/2017-tax-reform-legislation-what-you-should-know...