"Tx1" <bummer_nos...[at]aol.com> wrote:

- quote -

$57,000 AGI, one exemption, zero itemized deductions, single
2006 rate yields a total tax of $15,522.75 on Form 1040NR
including the $5700 penalty . Besides the 20% withheld,
$3200 in estimated tax would be due in 2007.

You could save about that $3200 by dividing the withdrawal
between two tax years, up to $35250 in 2007, the balance
after December. Only $400 in estimated tax would be due.

Bill Patch

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I worked in the US for a few years and then moved back to
my home country. I have around $57,000 USD in my Fidelity
401k account.

I am not yet of retirement age (still in 30's), but would
like to withdraw the money. Fidelity said there would be a
10% penalty & a 20% Federal Tax withholding, but 20% may or
may be the actual taxes I owe.

Assuming no other income for the year, other than the 401K
withdrawal, how much would be actual tax I would have to pay
on that amount.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >