Retirement Plan Withdrawal

Retirement Plan Withdrawal Calculator

Withdrawing money from a qualified retirement plan, such as a Traditional IRA, 401(k) or 403(b) plan, among others, can create a sizable tax obligation. If you are under 59 1/2 you may also be subject to a 10% early withdrawal penalty. Use this calculator to see what your net withdrawal would be after taxes and penalties are taken into account.

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For more information about these these financial calculators please visit: Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

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Retirement Plan Withdrawals

*indicates required.

Retirement plan information:

Amount to withdraw:*This entry is required.Enter an amount between $0 and $10,000,000

Current age:*This entry is required.Enter an amount between 15 and 90

Federal income tax rate:*This entry is required.Enter an amount between 0% and 50%

State income tax rate:*This entry is required.Enter an amount between 0% and 20%

Withdrawing $1,000.00 leaves you with $580.00 after taxes and penalties Stacked Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Withdrawing $1,000.00 leaves you with $580.00 after taxes and penalties

Definitions

Amount to withdraw

The amount you wish to withdraw from your qualified retirement plan. Withdrawals are subject to income tax and prior to age 59-1/2 may also be subject to a 10% additional tax penalty. There are some exceptions to the penalty. Consult a tax advisor for more information. For this calculation it is assumed that all contributions to the retirement account were made on a pre-tax or tax-deductible basis. If you made contributions that were subject to income taxes, you may not owe taxes on the entire withdrawal. You should consult your tax or legal advisor concerning your particular situation.

Current age

Your current age.

Federal income tax rate

Your estimated federal tax rate. If you are unsure, the calculator will choose 25%. Please note that state taxes are entered in a separate entry field. Use the ‘Filing Status and Federal Income Tax Rates on Taxable Income’ table to assist you in estimating your federal tax rate.

Filing Status and Federal Income Tax Rates on Taxable Income for 2025^*
Tax Rate	Married Filing Jointly or Qualified Widow(er)	Single	Head of Household	Married Filing Separately
10%	$0 - $23,850	$0 - $11,925	$0 - $17,000	$0 - $11,925
12%	$23,850 - $96,950	$11,925 - $48,475	$17,000 - $64,850	$11,925 - $48,475
22%	$96,950 - $206,700	$48,475 - $103,350	$64,850 - $103,350	$48,475 - $103,350
24%	$206,700 - $394,600	$103,350 - $197,300	$103,350 - $197,300	$103,350 - $197,300
32%	$394,600 - $501,050	$197,300 - $250,525	$197,300 - $250,500	$197,300 - $250,525
35%	$501,050 - $751,600	$250,525 - $626,350	$250,500 - $626,350	$250,525 - $375,800
37%	Over $751,600	Over $626,350	Over $626,350	Over $375,800
^*Caution: Do not use these tax rate schedules to figure 2024 taxes. Use only to figure 2025 estimates. Source: Rev. Proc. 2024-40

State income tax rate

The current state marginal tax rate you expect to pay on any additional income (or taxable distributions).

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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Retirement Plan Withdrawal

Retirement plan information:

Withdrawing $1,000.00 leaves you with $580.00 after taxes and penalties

Definitions

Amount to withdraw

Current age

Federal income tax rate

State income tax rate

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Budgeting

Saving

Keep Going

MilLife Milestones

Budgeting

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Recent Blogs

Money Ready

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