Early Withdrawal Penalty Calculator
Calculate the 10% penalty plus income tax on an early retirement account withdrawal.
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Applies to withdrawals from traditional IRAs/401(k)s before age 59½, with some exceptions (e.g. first home, disability, certain medical expenses).
Worth Knowing
Pulling money from a 401(k) or traditional IRA before age 59½ usually costs you twice: a 10% early-withdrawal penalty on top of ordinary income tax on the full amount. That combination can erase 30–40% of the withdrawal, which is why early withdrawals are a last resort. Some exceptions waive the penalty — certain medical costs, a first home, disability — but the income tax generally still applies. Weigh a 401(k) loan or other options first.
How to Use
- Enter Filing status into the first field of the Early Withdrawal Penalty Calculator.
- Fill in the rest: Withdrawal amount, Other taxable income.
- Your result appears instantly as you type — there's no submit button or page reload.
- Applies to withdrawals from traditional IRAs/401(k)s before age 59½, with some exceptions (e.g. first home, disability, certain medical expenses).