• edit- In Oklahoma (Around Tulsa) -edit-

So we both just want a fair deal. She isn't asking for alimony or to split the bank account, but wants to split my 401k. So she would get around $18k.

My question is this: Do I pay taxes on her half as well as mine when I pull it all out? I should say that I MUST pull out ALL of the 401k because the company merged into a new company and now if anyone pulls out any amount, they must pull out the FULL amount.

So from what I gather I would have to pull out all 31k (there is 5k more in another account, but as long as she gets the 18k she doesn't want to mess with it) and pay the 10% penalty and the fed and state taxes. I think I would wind up with around $20-22k, 18k of which would go to her. So after paying taxes next year I would have a total of around $2-4k and she would pay nothing on the $18k.

Is that correct? Maybe it isn't but without the alimony and account split your thinking I'm an idiot for even worrying about this part. I just want to double check.