There is a mandatory 20% tax withholding on 401(k) distributions that will help offset the tax when you file. The amount of distribution will be taxable as ordinary income and if yiu are under age 50 1/2 the there is an additional 10% penalty.
If you anticipate that you will be in the 24% tax bracket then the tax will probably be about 34% if under 59 1/2.
You can request that more be withheld, or you can pay the estimated tax in estimated tax payments (1040ES) during the year.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
