Nilhil Baht,<<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?>>If you are in the 28% tax bracket, you will net 62% on an early withdrawal. 28% will go for taxes and another 10% will go to pay the early withdrawal penalty.Regards....Pixy
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