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Asked 2/11/2009

Tax percentage for a early distribution of a 401k -is this the check total or total vested value total

Value of 11,000 but the check was only 6,900 so ten percent of which amount

 
 
 
 
 
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Answer 1/1 - Submitted 2/12/2009

The penalty is on the total distibution amount (11,000) not what you actually receive.. they should have withheld 20% taxes, (2200) did you have a loan out as well? Or ask to have the penalty held upon distribution? the numbers just don't sound right....

 
 
 
 
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