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I'm 55 years old quit job need to withdraw money from 401k what penalties taxes I have to pay if I leave in texas
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Living in Texas has nothing to do with it. You have no state income tax in TX. You will pay federal tax on money you take from your 401k. If you are younger than 59 1/2 there is a 10% early withdrawal penalty and there will also be ordinary income tax. You will get a 1099R that will have to be entered on your next tax return.
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