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Let's assume that I've thought out the benefits and disadvantages of withdrawing all of my IRA funds on 1/1/2000.

The amount in the fund is $11,000. It's a 401k rollover from a company I worked at 6 years ago. I think I originally contributed $3000 to the fund, but I have no paperwork. I'd like to withdraw it all on 1/1/2000 and put it in my checking account.

1) How much will the 10% penalty be? Is it $1100 (total * 10%) or is it 10% of something else, like the amount the fund has appreciated?

2) How much will taxes be based on? The total $11,000 or the appreciated amount?


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