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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 13133
Experience:  15years with H & R Block. Divisional leader, Instructor
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What would my tax percentage be on 50k withdrawal from a

Customer Question

what would my tax percentage be on 50k withdrawal from a 401k account, I am over 65 yrs old
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: my 401k dollars are pre taxed, is the
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Customer: need fund to buy a car
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Submitted: 4 months ago.
Category: Tax
Expert:  Robin D. replied 4 months ago.


The 401k is added to your other income and does not have a special tax rate .

Your tax rate is based on your total income and filing status. If the 401k is your only income for the full year and you are single your tax would be $5,720.

Your amount would be taxed progressively. $0.00+$9,225.00 × 10.00%($922.50) then $9,225.00+$28,225.00 × 15.00% ($4,233.75) and the remaining $37,450.00+$2,250.00 × 25.00% ($562.50)

To simplify though it is a 10% rate of tax if that is all you receive for the year.

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