My spouse and I are going through a divorce. The plan is that they give me their 401k. This will be the only financial gain I get from the divorce outside of a portion of the sale of our home. I intend to cash out the 401k as I make significantly less than my spouse and will be taking a large cut to my monthly income. I work full-time but make significantly less than my spouse.
My question is, how much can I expect these funds to be penalized/taxed/etc in the state of Tennessee?