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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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Depends on your tax rate. As Masraum said, say you pull out $50K then you've got a $5K penalty plus the tax on the entire $50K on top of your income. If you're in the 33% tax rate, another $15K or so in taxes on top of the penalty so you net pay about $20K on a $50K withdraw. Sounds like 40%. Talk to a tax adviser.
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Hugh
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