How old is he?
There is an additional penalty of 10% if he was under 59 1/2
The actual tax rate is based on the tax bracket he is in. Assuming that it is not a roth IRA where he already paid tax on the contribution, then whatever his income is let's say he earned $80,000 this year, add the $35,000 to it and it would be $115,000 of taxable income which is 28%
And youd have an additional 10% penalty since he is under retirement age.
To determine exactly what the tax was I'd have to know exactly what his income was, andif you are filing jointly.
THANKS. I'LL GET THE DETAILS FROM MY ATTORNEY AND GET BACK TO YOU. I GUESS I REQUEST JACUSTOMER-e81xh93w. HOW DO I MAKE THE REQUEST?
You can go right to my profile or just come back to this question, my profile name is XXXXX XXXXX to the attorney and ask him if you can get a QDRO which is a qualified domestic relations order, it can be drafted by the court during the divorce proceeding and will make it so you don't have to pay the 10% penalty.
That should take you back to my profile
GOT IT. THANKS.