Thursday, October 31, 2019 9:30:51 AM
Pulling it out of a 401k/IRA type vehicle will cause a 10% penalty on the withdrawn amount, AND your highest taxable rate on the entire amount, NOT the after penalty amount. So if your highest marginal rate is 30%, and you pull out 100K, your tax and penalty would be 40K (i.e. not 10K plus 30% of 90K, or 37K total).
General comments, please consult your tax adisor :)
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