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I'm 57 and separated from my company Feb 1. I made
I'm 57 and separated from my company Feb 1. I made withdrawal from 401k without 10% penalty. I've been laid off 6 months but about to get rehired next week from same company. Will that cause any penal… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
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Second opinion] I'm 57 and separated from my company Feb 1.
Second opinion] I'm 57 and separated from my company Feb 1. I made withdrawal from 401k without 10% penalty. I've been laid off 6 months but about to get rehired next week from same company. Will that… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I had to withdraw my 401k due to financial hardship because
I had to withdraw my 401k due to financial hardship because this is the second year that I've been unemployed. Is there any type of tax break that I can get due to this hardship? … read more
Bill
Bill
Master's Degree
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My husband's company was sold and he is now working for the
My husband's company was sold and he is now working for the new company. It has been treated as a "separation from service" from the old company. With regard to his 401K, he is now able to take a with… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I have an ESOP from my former Employer. I Resigned 1 Year ago.
I have an ESOP from my former Employer. I Resigned 1 Year ago. I received a Letter Yesterday in the Mail stating that I'm 100% vested with a pretty good amount. I am 58 Years old and I could use the M… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,650 satisfied customers
I recently left my employer of 29 years at the age of 53. As
I recently left my employer of 29 years at the age of 53. As I understand it an exception exists that if my termination of employment with the company where the 401K is kept occurs in the year I turn … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
Separation from service question on 401k early withdrawal exception
Separation from service question on 401k early withdrawal exception to 10% penalty: laid off at age 52 (2009) with 401k not touched since, until withdrawal in 2014 at age 57. Does 10% early withdrawal… read more
Tax.appeal.168
Tax.appeal.168
Principal
8,650 satisfied customers
I am heading to early retirement. I am over 55 but under 59.5
I am heading to early retirement. I am over 55 but under 59.5 . I would like to sell off some of my 401k stock funds to pay off my home mortgage so I can live on my retirement funds. Besides paying th… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
A portion of my 401K is invested in a leveraged employee stock
A portion of my 401K is invested in a leveraged employee stock ownership plan (LESOP). I am over 55 and anticipate leaving my current employer by the end of the year. I have heard that the difference … read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,995 satisfied customers
Im over 55 and was recently laid of from my employer. I understand
I'm over 55 and was recently laid of from my employer. I understand that I can withdraw my 401k without penalty because I was laid off after I turned 55. Is this true? Further, if my company rehires m… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,995 satisfied customers
I just switched jobs and need to rollover my 401k. My new employer
I just switched jobs and need to rollover my 401k. My new employer does not offer a 401k plan, so I was planning to put the funds in a rollover IRA. I would like to take part as a lump sum distributio… read more
Jacy
Jacy
Bachelor's Degree
434 satisfied customers
Im 58 yrs old. I left my last job 40 days ago. I rolled
I'm 58 yrs old. I left my last job 40 days ago. I rolled my 401k that was with them into a Traditional IRA. Can I now roll a part of that into a Roth IRA pay the taxes in 2011 & 2012 then withdraw fro… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
If I receive no W2 income for tax year 2010 and only 1099 income.
If I receive no W2 income for tax year 2010 and only 1099 income. Can I roll over the balance of my 401(k) to a Roth IRA no matter how high my income is?… read more
Merlo
Merlo
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558 satisfied customers
I retired from my job with a municipality. At that time I rolled
I retired from my job with a municipality. At that time I rolled over my funds from the city employees deferred compensation program to a private company. I was told that once I reached 55 years of ag… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Hello, I am currently drawing unemployment. I am 57 years
Hello, I am currently drawing unemployment. I am 57 years old. I have approximately $ 50,000 in 4 various 401k's from past employers. I am thinking about taking the money out of my 401k,s. My understa… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
I have seen lots of savings in my 401k steadily reduce over
I have seen lots of savings in my 401k steadily reduce over the last year. I just got laid off from my job. I have 3 months reserve to pay bills before I tap 401k savings. But perhaps I am better off … read more
Bill
Bill
Master's Degree
2,074 satisfied customers
If an employee leaves a company and performs a rollover from
If an employee leaves a company and performs a rollover from a 401K into an IRA. and then rejoins the same company 1 week later. Is there any reason the IRS would disallow the rollover ? Put another w… read more
Jesse Handel
Jesse Handel
Tax Preparer and Chemist
Bachelor's Degree
400 satisfied customers
what are the taxes on early withdrawal from your 401k ...
what are the taxes on early withdrawal from your 401k in Wisconsin and Arizonia. Also are there any exceptions for eary with drawal?… read more
The Guy Behind the Tree
The Guy Behind the Tree
Master's Degree
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