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annjohns0714
February 5, 2025
Question

What does an early withdraw from my 403b do to my income taxes

  • February 5, 2025
  • 1 reply
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    DianeW777
    February 5, 2025

    An early withdrawal from a 403(b) will be included in your taxable income and a likely penalty. If you are below 59 1/2 years of age you will also pay a 10% penalty. The money in this account was placed for retirement and tax deferral, so for this reason there is penalty attached when withdrawn early.

     

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