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Good afternoon. Any withdrawal with be included in your taxable income. Since you will be 59.5, there will be no penalty for the withdrawal, but the full amount of the withdrawal will be taxed as ordinary income. So, it's likely that with state and federal income taxes, the tax impact would be around $40,000. I don't know your filing status or any other deductions you might have, but I've provided you the marginal tax brackets for 2012 below; it's not possible to give you the 2013 brackets yet because of the pending fiscal cliff Congress is debating:
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