Have a Tax Question? Ask a Tax Expert
Hello JA Customer,
Unfortunately you cannot use the money in your 401k account for any purpose whatsoever without paying taxes on the amount you withdraw. There are absolutely no exceptions to that rule.
None of the money in your 401k has ever been tax paid, and it becomes immediately subject to tax in the year the money is withdrawn, no exceptions at all.
There are some very few exceptions to the early penalty withdrawal, but this would not even apply to you since you are over the age of 59-1/2.
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Thank you JA Customer