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If I take out a 401k loan for the purpose of buying a
if I take out a 401k loan for the purpose of buying a primary residence but my name will only be on the title , not the mortgage , my wife will be the mortgage holder, will there be tax consequences? … read more
keeperumiami
keeperumiami
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I have a follow-up question relating to your answer below:My
I have a follow-up question relating to your answer below: My friend received a 401(k) of more than $5,000 with Vanguard through divorce QDRO. Vanguard told my friend they could NOT take out part of t… read more
Lev
Lev
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Im getting a divorce. I have a retirement IRA and 401k. Im
I'm getting a divorce. I have a retirement IRA and 401k. I'm over 60. I'm currently employed in a high tax bracket. I need $85,000 cash to give the other party as part of the divorce settlement. What … read more
Megan C
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I defaulted on a 401K loan in 2010 because of several reasons,
I defaulted on a 401K loan in 2010 because of several reasons, mostly because a lay-off, and trying to keep my house from foreclosure. Since then I got divorced and had to pay part of the remaining 40… read more
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My husband asked for a non contested divorce. I agreed and
My husband asked for a non contested divorce. I agreed and asked for lump sum cash to buy me out. This asking amount is less than 50% of our total assets. He has decided to take the money from his 401… read more
Bill
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From 1998 until 2005 I had a partener in a boat business, we
From 1998 until 2005 I had a partener in a boat business, we were going under. I took another job and he kept the business. He accused my wife of shoddy bookeeping, the states attorney said he could f… read more
Charles Greiner
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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
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Background Wife paid divorce settlement with funds from her
Background: Wife paid divorce settlement with funds from her retirement account. Monies were transferred from her account to one setup in her husband's name, and he received the money in ten yearly in… read more
Bill
Bill
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i am going to receive my spouses 457 plan (issued by fdny)
i am going to receive my spouse's 457 plan (issued by fdny) as part of our divorce settlement. Will i be allowed to withdraw from the fund to purchase a new residence? What are the tax implications? A… read more
Jacy
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My husband and I have been married for 20 years and I have
My husband and I have been married for 20 years and I have been a stay at home mom. We are now in the process of getting a divorce and come to an agreement that he keep the house and other assets and … read more
Dr Arthur Rubin
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Doctoral Degree
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I lev, I was trying to get a follow up answer from you and
Hi lev, This relates to a thread from a while back about my husband liquidating his simple ira and distributing the funds to me as part of a QDRO. I may have misunderstood that this process would allo… read more
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Lev
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I would like to know about the exceptions to the tax penalties
I would like to know about the exceptions to the tax penalties on early withdrawal of simple IRA. I understand one of the exceptions relates to divorce settlements. Is there a quantity limit on the am… read more
Lev
Lev
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Bachelor's Degree Equivalent
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tHE MONEY CAME AS A DIVORCE QDRO FROM THE COURT ORDERED FROM
tHE MONEY CAME AS A DIVORCE QDRO FROM THE COURT ORDERED FROM 401 FROM WIFE i GOT A LUMP SUM CHECK OF 88,000.00 i USED 42,000.00 TO PAY OFF BILLS WHAT IS MY TAX RESPONSIBLE AMOUNT TO PAY I LIVE IN THE … read more
Ed Johnson
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In 2007 I was divorced from my husband ,as part of the divorce
In 2007 I was divorced from my husband ,as part of the divorce agreement I was awarded a sum money to be paid to me from his 401K fund,which I recieved. How is it handled for whom would pay taxes on t… read more
Lev
Lev
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I would like to use my 401 (k) money as a down payment ...
I would like to use my 401 (k) money as a down payment on my first home purchase. I have two 401 (k) accounts from previous jobs that I want to apply to my home downpayment and I need advise to avoid … read more
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I received a distribution through a QDRO Order when my ...
I received a distribution through a QDRO Order when my husband and I divorced. It was his 401K plan (stock). I received a 1099-R. I understood through the disbursing agent at the time we were going th… read more
Lev
Lev
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My ex-husband and I finalized our divorce in December of ...
My ex-husband and I finalized our divorce in December of 2004. I sold him my equity in our house in 2005. He paid me for my half of the by transferring $163,000 out of his 401K to me. Unfortunately, w… read more
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Can I cash out my 401k account from last employer due to ...
Can I cash out my 401k account from last employer due to medical disability ( current) and medical insurance premium due while waiting for disability payment without penalties, And re invest in a roth… read more
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