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I am 55, if I have a 401k with my employer and a separate
I am 55, if I have a 401k with my employer and a separate IRA, with 25,000 in it, can I take it out under the 72t rule without penalty since I am without a job now? My 401k is with my past employer I … read more
Lev
Lev
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Just started a new job in December. On 12/14/15 I did a
just started a new job in December. On 12/14/15 I did a roll-over of my 401k from my old employer to my new employer. While employed at my old employer I had a loan taken out with a balance of $20k. I… read more
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Robin D.
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, I live in California and I am 63 and my wife is 52. I'm
Hello, I live in California and I am 63 and my wife is 52. I'm retired and have rolled my pension and 401k into an IRA. My wife has a 401k, but won't be able to roll it over as well as her pension for… read more
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The company that I work for was sold last year and the 401K
The company that I work for was sold last year and the 401K that was with that company was stopped (not my decision) and a new 401K started up with the new company. I need to take the lump sum from th… read more
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Just as my bleak past was beginning to turn around, my wife
Just as my bleak past was beginning to turn around, my wife said to me that she is no longer my wife and that she would give me a bit of time to get onto my feet. I have been receiving neurotherapy tr… read more
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I was laid off from my employer in June 2011 with whom I had
I was laid off from my employer in June 2011 with whom I had a 401K. I am 58 years old. I started a new job in December 2011. Can I withdraw money from my June 2011 employer's 401K without the 10% ear… read more
Jax Tax
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Hello, I am a 58 year old male who is getting a legal separation
Hello, I am a 58 year old male who is getting a legal separation from my wife of 10 years. She is 59. As part of our legal separation agreement, I will liquadate a large part of my IRAs ($250K) and tr… read more
Jax Tax
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Hi, I make regular automatic Roth IRA contribution. Last
Hi, I make regular automatic Roth IRA contribution. Last year towards the end of the year, I sold some stocks that bumped up my income bracket substantially, making me ineligible for roth contribution… read more
Bill
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I need to find out how to get monies out of an IRA. My sister has an IRA through a divorce
I need to find out how to get monies out of an IRA. My sister has an IRA through a divorce settlement that she desperately needs to get money out of. Is there still a 30% penalty for withdrawal prior … read more
Jax Tax
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Tax question. My wife took out a hardship withdrawal from her
Tax question. My wife took out a hardship withdrawal from her 401K for our down on a 1st time home. my wife was 6 months short of 59 1/2. They understandably took the 10% for tax. But then at tax time… read more
Lev
Lev
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Lets say a couple is getting divorced and the settlement awards
Let's say a couple is getting divorced and the settlement awards her the entire 401k via a qualified domestic relations order (QDRO). Does a qdro really avoid all the penalties and the tax that would … read more
Bill
Bill
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my wife & I just bought a home as first time buyers in 02/2011.
my wife & I just bought a home as first time buyers in 02/2011. we used $22,000 from her 401k a former employer a total withdrawal & $16,000 from my 401k also a former employer also a total withdrawal… read more
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I plan to retire soon at the age 0f 55. I plan to take lump
I plan to retire soon at the age of 55. I plan to take lump distributions from my 401k. Is it true that ever since I am leaving my employer, the 10% penalty will not apply? If this question is true, c… read more
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I withdrew my pension early and used it for a down payment
I withdrew my pension early and used it for a down payment on a home. I was required to pay off my bills and put 30% down for my mortgage. Can I claim any of my pension for write off? I had to pay a s… read more
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I have recently lost my job and have a 401k plan that Im 100%
I have recently lost my job and have a 401k plan that I'm 100% invested, I have a large amount of bills and need to use the funds in my plan, I've been advised that I have to pay a 20% penalty because… read more
Bill
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I have had a rough year, things are better now. I was laid
I have had a rough year, things are better now. I was laid off from my job as DM for a retail chain. I ended being off work for 4 months. I made over $90000 with bonus last year so with 4 months off I… read more
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I am just under 40 years old. I have $50,000 in my employer
I am just under 40 years old. I have $50,000 in my employer sponsored 401k account. I may be leaving this employer later this year. I am considering cashing-in the balance and paying off my very heavy… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
My 401k is split with my wife for a divorce with a QDRO.
My 401k is split with my wife for a divorce with a QDRO. Can she take the cash without penalty or does she have to roll it over into an IRA etc.… read more
jgordosea
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