topic How will it affect my taxes if I take money from my 401k in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/how-will-it-affect-my-taxes-if-i-take-money-from-my-401k/01/383560#M34247 Tue, 04 Jun 2019 18:35:10 GMT jchaplin 2019-06-04T18:35:10Z How will it affect my taxes if I take money from my 401k https://ttlc.intuit.com/community/retirement/discussion/how-will-it-affect-my-taxes-if-i-take-money-from-my-401k/01/383560#M34247 Tue, 04 Jun 2019 18:35:10 GMT https://ttlc.intuit.com/community/retirement/discussion/how-will-it-affect-my-taxes-if-i-take-money-from-my-401k/01/383560#M34247 jchaplin 2019-06-04T18:35:10Z If you are younger than 59 1/2 there is a 10% early withd... https://ttlc.intuit.com/community/retirement/discussion/if-you-are-younger-than-59-1-2-there-is-a-10-early-withd/01/383563#M34248 <P>If you are younger than 59 1/2 there is a 10% early withdrawal penalty, and you will also pay ordinary tax on the amount you take out, which you will combine with your other income.</P> Tue, 04 Jun 2019 18:35:11 GMT https://ttlc.intuit.com/community/retirement/discussion/if-you-are-younger-than-59-1-2-there-is-a-10-early-withd/01/383563#M34248 xmasbaby0 2019-06-04T18:35:11Z But no penalty if you separated from the job that has the... https://ttlc.intuit.com/community/retirement/discussion/but-no-penalty-if-you-separated-from-the-job-that-has-the/01/383565#M34249 But no penalty if you separated from the job that has the 401(k) at age 55 or more. Tue, 04 Jun 2019 18:35:13 GMT https://ttlc.intuit.com/community/retirement/discussion/but-no-penalty-if-you-separated-from-the-job-that-has-the/01/383565#M34249 SweetieJean 2019-06-04T18:35:13Z