What is the impact on my 2024 taxes for taking a 59 1/2 withdrawal of 100K from my 401K?

posted

Well it will add to your income and push you into a higher tax bracket. Any withholding you have taken out might not be enough to cover the tax increase so you may want to send in an estimated payment to cover tax. Federal and state.

Does Turbo tax allow you to calculate the impact of expected social security for tax purposes in order to decide to take it or wait?

Expert does your taxes

Do it yourself

Resources

Support

Expert does your taxes

Do it yourself

Resources

Support

What is the impact on my 2024 taxes for taking a 59 1/2 withdrawal of 100K from my 401K?

What is the impact on my 2024 taxes for taking a 59 1/2 withdrawal of 100K from my 401K?

Get more help

Do you have a TurboTax Online account?

What is the impact on my 2024 taxes for taking a 59 1/2 withdrawal of 100K from my 401K?

Do you have an Intuit account?

What is the impact on my 2024 taxes for taking a 59 1/2 withdrawal of 100K from my 401K?

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert