Thread: Options
View Single Post
  #5  
Old 10-13-2009, 11:49 AM
cmdrost's Avatar
cmdrost cmdrost is offline
Red Snapper
  
Join Date: May 2009
Location: Lake Charles via Choupique Bayou
Posts: 1,665
Cash: 813
Default
IRS takes 10% out for any early withdrawal. Then the rest is treated as normal income, so depending on your tax bracket (if in 25% tax bracket), its a total of 35% going to the IRS. Again, could be higher or lower depending on your bracket.
Reply With Quote