What is the LA state tax on a 401(k) withdrawal?

Answer In Louisiana, if you are under the age of 59 1/2, you're required to pay income tax and a penalty of 10 percent on early 401(k) withdrawals. However, some people may qualify for a penalty-free with... Read More »

Top Q&A For: What is the LA state tax on a 401(k) withdrawal

IRS Penalties for a 401K Withdrawal?

Many employers offer their workers 401k plans to help them save for retirement, and often will make matching contributions to these accounts. Employee contributions are made with pretax dollars and... Read More »

What is a 401k hardship withdrawal penalty?

A 401k plan is a tax-deferred retirement account that may be offered by your employer to help you save for retirement. Contributions to your 401k account are tax-deductible and the money grows tax-... Read More »

What is a qualified withdrawal from a Roth 401k?

A Roth 401k is a retirement account that allows you to withdraw money tax free at retirement. In order to be qualified, withdrawals must meet both time in the account and age restrictions.Time Fram... Read More »

Do i have to claim 401k withdrawal on my taxes?

On One Hand: Yes, You Do.You must report a withdrawal from your 401k retirement account when you file your taxes, according to TurboTax. The income in your account is tax deferred, so you don't act... Read More »