What is the tax on early 401K dist.  1099R shows 10% withheld Tax Cut is taking out another 10%, is this right
100244
There is a 10% penalty for early withdrawal if not rolled into another tax-deferred account (i.e., another 401K or an IRA), plus the distribution is taxed as normal income.  The 10% that TaxCut is applying is for the 10% penalty.  The amount of the distribution then gets added into your total income, and the tax depends on whatever tax bracket you are in.  But the withheld amount shown on Box 4 of the 1099R gets counted as prepaid tax, so your total tax+penalties due will be decreased by the amount of tax already withheld at the time of the 401K withdrawal.  In your case, the 10% withheld pays for the 10% penalty, and then you still owe the regular income tax on the amount of the distribution.
47773
For a 401K, unless it's for a true hardship, you will pay a stiff penalty.  Check with your plan administrator but I believe it's around 25%, plus you will have to pay taxes on the amount if if was on a pretax plan and lose the the money's ability to work for you in the inventment.  Unless you have absolutely no other option, it's really best to leave the money alone.  You'll be glad you did later.
264359
You can do it either way. You can print it off the IRS web site or your employer can get you a new one. Don't stress if you are a Little late in turning it in. The have to withhold at the highest tax rate until you fill out the  4-w telling them otherwise
12383
There is a 10% early withdrawal penalty, plus the $5,000 is counted as ordinary income in the calendar year you withdraw it so you will have to pay tax on it.
884689
http://www.irs.gov/taxtopics/tc557.html\n\nCheck out that link. Basically, it states that if you set it up as "made as part of a series of substantially equal periodic payments over your life or life expectancy, " you can avoid the 10% tax penalty.\n\nI would speak with your financial advisor/tax accountant to discuss ways to set it up this way.
355001
this was not enacted by congress. The 4% you are referring to is Social Security with holdings they were going to allow you to self direct for your own retirement. I urge you to save it any way in a ROTH  I.R.A..
126972
Yes.  The 10K loss can be used to offset gains in future years: or, if you have no gains in future years, U can offset income at the rate of $3K per year. Indeed, U can offset income in the amt. of 3K this year. Complete Schedule D, which will show a loss of $3K. This loss is inserted on page 1 of Form 1040.  Good luck.
453126
I'm not a financial advisor, so you should check on this, but I believe that you will pay early withdrawal penalties plus income taxes at your current base rate on whatever you take out for whatever reason before you are 59 1/2.\n\nYou can take a loan against it, but you'll  have to pay that back.  I think you can also divide the entire value by how many years you likely have left to live (from actuarial tables) and take annual "substantially equal payments" without penalty.  All in all, very, very bad idea to use 401(k) money before you are at least 59 1/2.  \n\nCheck the Motley Fool for sound advice on paying off your loans.
742987
Check with your HR or Benefits department, but generally speaking you can not cash out your 401(k) unles you seperate from service first.  The only alternative is a loan, but that could become messy if you wind up leaving before you pay it back.\n\nIf somehow your plan allows early distributions prior to retirement or seperation of service, then the other answers are correct.  If you receive a check directly from the plan, then by law they have to withhold 20% for taxes.  The entire distribution will more than likely be taxable (if you have after tax contributions, then you pay no tax on those) and you will be subject to a 10% IRS penalty. \n\nIf you meet one of the qualifying distribution exceptions for IRAs (first time home purchase, medical expenses, college expenses, etc...) then if you roll your 401(k) into an IRA FIRST and then take a distribution you may be able to avoid the 10% penalty.  You also control the amount that is withheld, so you may be able to keep more of your money.  Again, this is usually only an option if you're over 59 1/2 or if you seperate from service i.e. quit or change jobs.  But you may be able to keep more of your money.  You can open a rollover IRA at any bank, find one that DOESN'T charge a fee for the account.
288275
The have to send them out by Jan 31st. They should have them to you by then corporate taxes are to be filed by March 15 so if they do their taxes on time you know they can have your 1099 to you before April
1060763
15% is not a whole number. It is .15 which is pretty close to 1/6. If you are paying tax you can bet that you will pay $1.43 for the tax which is a total of $10.93--another reason why math is so important--so you don't get overcharged.
899557
Unpaid 401k loans are treated as a distribution.  You have to pay regular income tax on the amount borrowed plus a 10% penalty.\nIf you can't pay it back, take the hit and move on.  It was your money anyway.  BTW usually there are better ways to take out a loan.  The advantage to a 401k loan is you pay back the interest to yourself.  Plus they take the payments right out of your check.\nNot bad at all.  But I prefer to leave my retirement money alone for when I retire.  But your situation doesn't sound so bad.  How much was it for?  Maybe you could alter your witholding at your new job so you won't have to shell out at tax time.  (You could file 0 dependants and have them withhold a few dollars extra.)  You just have to figure what wasn't paid back as additional income and roughly figure the tax on that.  Plus 10% of the distribution.\nShould be roughly one third of the outstanding balance.  Not the end of the world.
781759
10% penalty and taxes on your vested balance.
1175469
what's the money being deducted for
801100
The annuity provider should be able to help you withdraw early if that’s what you need to do. Most plans allow for limited early withdrawals without penalty. However, if you need to withdraw a lot of money or deplete the account, you will be facing stiff penalties if you decide to withdraw early. The IRS will levy a 10 percent tax on your earnings, and the penalty, or surrender charge, from the annuity provider will be pretty high, too.\n\nContact your annuity issuer and find out what you have to do to get your annuities early.\n\nHope this helps,\n\nBarnes@MostChoice\nhttp://www.mostchoice.com/annuity.cfm
402177
It depends highly on your income.  Look at the 1040 tax tables to get an idea for federal.  But typically, take home is 60-80% of gross.
164153
If you were penalized for taking a CD out early, yes.  You can deduct that penalty on your 1040.