Retirement Account Withdrawal Tax Estimator
Estimated Tax Impact (2024 Federal)
Gross Withdrawal Amount:
Account Type:
Age:
Filing Status:
Other Taxable Income:
Taxable Portion of Withdrawal:
Early Withdrawal Penalty (10%):
Estimated Federal Income Tax on Withdrawal:
Total Estimated Tax & Penalties:
Net Withdrawal Amount (after estimated tax):
Notes & Assumptions:
- Estimates are based on 2024 U.S. Federal tax laws and standard deductions.
- State and local income taxes are not included.
- For Traditional accounts, assumes all contributions were pre-tax and the entire withdrawal is taxable.
- For Roth accounts under age 59.5:
- Withdrawals of contributions are tax-free and penalty-free.
- This tool estimates taxes if the specified 'Withdrawal Amount' consists of 'Earnings', which are taxable and potentially penalized. Always consult IRS rules for exact ordering.
- The 10% early withdrawal penalty may have exceptions not covered here (e.g., disability, certain medical expenses, first home purchase from IRA up to $10k).
- This tool provides an estimate for informational purposes only. Consult with a qualified tax professional for advice tailored to your specific situation.