https://ttlc.intuit.com/community/tax-credits-deductions/discussion/tax-on-401k-with-no-other-income/01/3708574#M353535 <P>My son has been unemployed all year, and wants to take some money out of his 401k to pay for rent, ins, etc. He is single and has no other income. If he takes, for example, $20,000 from his 401K, what penalties &amp; taxes would he pay? Is there an amount on the tax return that if he makes under that amount in gross income, he&nbsp;would get his taxes (that were withheld at distribution) refunded to him? He lives in Mississippi, so no state taxes on 401k.</P> Wed, 22 Oct 2025 13:30:50 GMT kenbitz 2025-10-22T13:30:50Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/tax-on-401k-with-no-other-income/01/3708574#M353535 <P>My son has been unemployed all year, and wants to take some money out of his 401k to pay for rent, ins, etc. He is single and has no other income. If he takes, for example, $20,000 from his 401K, what penalties &amp; taxes would he pay? Is there an amount on the tax return that if he makes under that amount in gross income, he&nbsp;would get his taxes (that were withheld at distribution) refunded to him? He lives in Mississippi, so no state taxes on 401k.</P> Wed, 22 Oct 2025 13:30:50 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/tax-on-401k-with-no-other-income/01/3708574#M353535 kenbitz 2025-10-22T13:30:50Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-tax-on-401k-with-no-other-income/01/3708586#M353536 <P>$15,750 is the standard deduction for a single person in 2025 so he would pay10% in tax on anything over that amount plus a 10% penalty on the entire distribution.&nbsp;</P> Wed, 22 Oct 2025 14:51:17 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-tax-on-401k-with-no-other-income/01/3708586#M353536 Bsch4477 2025-10-22T14:51:17Z