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How much can I withdraw from my 401K at 59.5?

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How does it feel when you go to the movies and use your own app to save a few bucks? Maybe you saw some of those summer blockbusters you mentioned?

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How can you legally escape taxes if you withdraw from 401K and transfer to son?

Many plans allow employees to take http://www.answers.com/topic/loan from their 401(k) to be repaid with after-tax funds at pre-defined http://www.answers.com/topic/interest.

How much tax will be taken out from your 401k if you withdraw it all?

Mandatory 20% when you withdraw. There could also be a mandatory state tax withholding as well depending on which state you live. However, that may not be all the taxes you ow

How much income tax do you have to pay on a withdrawal from 401 plan after age 59.5?

The taxable amount of the distribution will be subject to your marginal tax rates when the taxable amount of the distribution is added to all of your other worldwide gross inc

When can you withdrawal from 401k?

Typically, you're able to withdrawal from a 401k if you're atleast Age 59 1/2 and older or if you're no longer employed with the Company that the 401k you were contributing to
What is penalty for 401K withdrawal before retirement age?

What is penalty for 401K withdrawal before retirement age?

10% early withdrawal penalty on the taxable amount of the distribution plus income tax at your marginal tax rate. If you are separated from the company that has the 401K plan

How do you withdraw from your 401k after age 59?

  The question should say "age 59 and 1/2 years". For whatever reason, 59.5 years is the age at which you can start withdrawing funds from your 401K without penalty. Befo
How can you qualify for tax free 401k withdrawal?

How can you qualify for tax free 401k withdrawal?

You will never be able to withdraw the deferred compensation amounts from the 401K with out having to pay the federal and state income taxes that will be due when you take any

What is the penalty for early withdrawal of 401K loan?

The penalty is 10%. All in all you will pay your tax bracket + 10%. Actually that is incorrect. The question was about a 401k loan. There are no taxes on 401k loans unless yo