How much tax do you pay on 401k after retirement?
How much tax do you pay on 401k after retirement?
Taxes will be withheld. The IRS generally requires automatic withholding of 20% of a 401(k) early withdrawal for taxes. So if you withdraw the $10,000 in your 401(k) at age 40, you may get only about $8,000. The IRS will penalize you. Mar 16, 2022
