Will I still get a tax refund?

The first two people to answer your question didn't pick up your mistake in terminology. It sounds to me that "stock purchase" is a reference to an employee stock purchase plan, a type of retirement account.

It's impossible to determine whether you will get a refund or owe money with your tax return with the information you provided. The money withheld from your 401K and stock purchase plan distributions is just like the taxes withheld from your paycheck. H&R Block has a tax calculator on its site at http://www.hrblock.com/taxes/tax_calculators/index...

The tax calculator will not give you the correct answer because you have to understand a little about the tax law. If you were under the age of 59.5 when you took the distributions from the 401K and stock plan, you have to pay a 10% penalty tax. If you took a distribution of $15,000 from the stock plans, and 20% was withheld ($3,000) you may still get a small refund.

I hope this helps.

Gary

When you took money out of the 401K, they probably withheld 20% towards your tax bill. That was 10% for tax and 10% for penalty.

When you file, your TOTAL income for the year will determine what tax rate you actually pay. If it's less than 10%, you may get a refund.

As for the stock sales, you will get a 1099-B, will show the sales and cost basis on your tax return, etc. Any tax will be based on gain/loss.

Contrary to popular belief, it is almost impossible to have ALL of the taxes on 401K withdrawals withheld. In most cases, only SOME of the taxes are taken, and you must pay the rest later.

In the extremely unlikely event that you actually paid more tax than required, you can have the excess refund.

However, not only will you probably not get a refund, you will probably have to pay the rest of the tax that was only PARTIALLY paid.

I think you are confusing a lot of terms.

You do not pay taxes on a stock PURCHASE.

You would qualify for a tax refund if the amount withheld throughout the year exceeds your final tax burden after preparing your 2009 return.

Please consult a certified tax preparer.

the 10% penalty is not refundable

and depending on how much was withheld on your W-2 as well as how much your total income will be will determine if you are due a refund at all

your personal exemptions are $3650 each, and if you are single, standard deduction in $5700, total of $9350, not taxable

those figures can change with your status and exemptions but the 10% will not be wiped out, except for EIC or additional child credit