What is the penalty when you with drawl from 401k?

Any withdrawal from 401(k) is reported as income on the tax return. You may also have to pay 10% early withdrawal penalty unless the withdrawal meets the requirements of an exception. For more information on 401(k), read a href="http://taxipay.blo.com/2008/08/elective-deferrals-401k-plans.html" rel="nofollow"http://taxipay.blo.com/2008/08/elec…/a