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I have a tax question regarding withdrawal from my 401(k)?
Hello. I have a tax question regarding withdrawal from my 401(k)? … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,926 satisfied customers
This last year I purchased a home (my first), but to do so I
Hello. This last year I purchased a home (my first), but to do so I had to make an early withdraw from my 401(k) plan. I now owe $24,500 in state and federal tax. Can you help lower my tax bill? I do … read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,643 satisfied customers
I am a returning college student transferring to a college
I am a returning college student transferring to a college upstate, to finish my degree. In order to afford the cost of moving, I have to withdraw my 401k. I read that being a student can help you avo… read more
ShawnA
ShawnA
CEO
Bachelor's Degree
2,450 satisfied customers
Hello Lane... My job HR DEPT. requests 3 months notice of
Hello Lane... My job HR DEPT. requests 3 months notice of retirement. I was thinking of making my last day jan, 7...in hopes they would give me my bonus which they give in Feb....but that is no guaran… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,781 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
13,781 satisfied customers
Hello, Im not sure exactly who to send this to, Tax
Hello, I'm not sure exactly who to send this to, Tax or Irs as both apply, anyhow here is the question. My Current home was hit with Termites & Mold(would cost more to fix then it is worth, & Still pa… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,649 satisfied customers
I inherited a 401K plan from my father (79 years old at time
I inherited a 401K plan from my father (79 years old at time of death). Can I roll it into my LLC (owned solely by me)? Will I receive a penalty for early withdrawal, even though I never signed with t… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
In 2007 I left a job and cashed out my 401K in order to cover
In 2007 I left a job and cashed out my 401K in order to cover living expenses. I moved to another state where I found a new job 4 months later. I used the unused money to put a down payment on a home.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
I recently relocated from Cleveland, OH to Perrysburg, OH and
I recently relocated from Cleveland, OH to Perrysburg, OH and took a $15K loss on my house. We found a home that we are purchasing as a primary residence. I took a hardship withdrawal on my 401K to co… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
My husband was laid off in December 2008. We both rolled our
My husband was laid off in December 2008. We both rolled our retirement accounts into an IRA with our personal bank in the event we would need to access the money to cover expenses. As it turned out t… read more
Arthur Rubin
Arthur Rubin
Doctoral Degree
1,278 satisfied customers
I just finish a seperation from my wife. I used my 401-k to
I just finish a seperation from my wife. I used my 401-k to catch up on the mortage and some other bills in the amount of 27550.00 . Know I have to play the penalties on that amount. I will be using m… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
I have a 401K worth approx 95K, including 20K of loans for
I have a 401K worth approx 95K, including 20K of loans for my sons' college. I also have a NYS Retirement System pension, which I owe $46k to. I am 51 and would like to bring my pension up to date by … read more
Bill
Bill
Master's Degree
3,132 satisfied customers
for tax year 2006 I withdrew funds from a 401(k) to make a ...
for tax year 2006 I withdrew funds from a 401(k) to make a downpayment on a first home. I now am being asked to pay a tax penalty since this was not declared as inclome in 2006. Do I have to pay the p… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
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
Brad
Brad
Bachelor's Degree
122 satisfied customers
my stepdad has a 401 k plan and him and my mom bought a ...
my stepdad has a 401 k plan and him and my mom bought a house and owe 190,000 on and he's thinking about cashing in his 401k plan but only has 150,000 dollars how much will he loose because he is old … read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,197 satisfied customers
K..divorced over a year now. Fought tooth and nail to get ...
K..divorced over a year now. Fought tooth and nail to get my court ordered 50% of TSP. Finally got the paperwork - gives me a cut-off date of 10/23/07 to make a decision on what to do with the 74k. De… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I STARTED RECEIVING MY RETIREMENT. I TURNED 59 LAST YEAR ...
I STARTED RECEIVING MY RETIREMENT. I RECEIVED A 1099. I TURNED 59 LAST YEAR IN JULY. DO I NEED TO FILE A FEDERAL RETURN?… read more
Guru_Guy
Guru_Guy
Doctoral Degree
1,634 satisfied customers
I retired last year at the end of June. I took my full ...
I retired last year at the end of June. I took my full pension and 401K from my employer and rolled the entire amount over to an investment company. Each month I receive a monthly distribution of $150… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
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