401(k) Early Withdrawal Calculator

See how much of an early 401(k) or IRA withdrawal you actually keep after the 10% federal penalty and income tax. Taking money out before age 59½ is expensive — this shows exactly how much.

Your details

Amount to withdraw$Income tax rate%Your marginal federal (and state, if any) tax rate. The withdrawal is added to your taxable income.Early-withdrawal penalty%10% federal penalty applies before age 59½ unless an exception applies.

Amount you keep

$34,000.00

Early-withdrawal penalty: $5,000.00
Income tax: $11,000.00
Total tax + penalty: $16,000.00

What you keep vs lose

You keep: $34,000.0068%
Income tax: $11,000.0022%
10% penalty: $5,000.0010%

Amount you keep$34,000.00

Formula

Penalty = amount × 10%. Income tax = amount × your marginal tax rate. Amount you keep = withdrawal − penalty − income tax. Some exceptions (first home, disability, certain medical costs, substantially equal payments) waive the 10% penalty — set the penalty to 0 if one applies to you.

Frequently asked questions

When does the 10% penalty apply?⌄

Generally on withdrawals from a 401(k) or traditional IRA taken before age 59½. Several IRS exceptions can waive it, including disability, qualified first-home purchase (IRA), higher-education costs (IRA), and substantially-equal-periodic-payment plans.

Is the withdrawal also taxed?⌄

Yes. A traditional 401(k)/IRA withdrawal is taxed as ordinary income in the year you take it, on top of the penalty. That combined hit is why early withdrawals are usually a last resort.

Sources & methodology

Applies the 10% federal early-distribution penalty plus income tax at your marginal rate. Excludes state penalties and IRS exceptions — set the penalty to 0 if an exception applies. Not tax advice.

•IRS — Retirement topics: exceptions to tax on early distributions — IRS

Last updated: 2026-07-20

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