401(k) Early Withdrawal Calculator
See how much of an early 401(k) or IRA withdrawal you actually keep after the 10% federal penalty and income tax. Taking money out before age 59½ is expensive — this shows exactly how much.
Your details
- Early-withdrawal penalty
- $5,000.00
- Income tax
- $11,000.00
- Total tax + penalty
- $16,000.00
What you keep vs lose
- You keep
- $34,000.0068%
- Income tax
- $11,000.0022%
- 10% penalty
- $5,000.0010%
Formula
Penalty = amount × 10%. Income tax = amount × your marginal tax rate. Amount you keep = withdrawal − penalty − income tax. Some exceptions (first home, disability, certain medical costs, substantially equal payments) waive the 10% penalty — set the penalty to 0 if one applies to you.
Frequently asked questions
When does the 10% penalty apply?⌄
Generally on withdrawals from a 401(k) or traditional IRA taken before age 59½. Several IRS exceptions can waive it, including disability, qualified first-home purchase (IRA), higher-education costs (IRA), and substantially-equal-periodic-payment plans.
Is the withdrawal also taxed?⌄
Yes. A traditional 401(k)/IRA withdrawal is taxed as ordinary income in the year you take it, on top of the penalty. That combined hit is why early withdrawals are usually a last resort.
Sources & methodology
Applies the 10% federal early-distribution penalty plus income tax at your marginal rate. Excludes state penalties and IRS exceptions — set the penalty to 0 if an exception applies. Not tax advice.
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