I want to take $20,000 out of my 401(k) for a family trip. How much will I be taxed?

I want to take $20,000 out of my 401(k) for a family trip. How much will I be taxed?
0

#1

I will be 67 in December. Will retire in January with a pension. On my deceased husband’s S.S. until I turn 70. I want to take my grandkids on a Mediterranean cruise.


#2

You will be taxed at whatever your current tax rate is. I would assume at least 28% for state and federal as a ballpark, but you would need to look at your tax returns to determine what your rate is.


#3

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