IRC §72(t) · Form 1099-R

401(k) / IRA Distribution Planner

Before you pull the trigger, see the federal tax, state tax, 10% penalty, and the mandatory 20% withholding.

Distribution amount (gross)

Account type

Your age

Reason for distribution (IRC §72(t)(2) exceptions)

Federal marginal rate (%)

State marginal rate (%), 0 if FL/TX/NV/WA/etc.

Net amount you keep

Federal tax

State tax

10% penalty (§72(t))

Mandatory withholding

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Per IRC §3405(c), a 401(k) cash distribution requires 20% mandatory federal withholding. Direct trustee-to-trustee rollovers escape it. IRA distributions default to 10% but you can elect out.

Have our office model the rollover instead

SEPP under IRC §72(t)(2)(A)(iv) must run 5 years or to age 59½, whichever is later. Modifying the schedule triggers retroactive penalty on all prior payments. Call 689-331-5723 or email info@zerofusstaxes.com.