Hello Fools,I am well aware of the pitfalls of withdrawing money from a 401(K) account i.e. 10% penalty and a tax hit.What I need to find out is how exactly will the taxbe calculated. Is it flat 28% capital gains on the gains and my tax rate on the principal and when is the 10% penalty calculated, before or after the taxes?i.e. if i withdraw 12,000$ from my 401(K) account isthe following calculation correct assuming 2000$ gains.penalty : 1200$capital gains : 2000*0.28=560taxes on principal (i.e. 10,000$) : 10,000*0.30=3000Hence I will get back 12,000-1200-560-3000=7240$Is this calculation correct or am i missing something?RegardsNikhil Bhat
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