I would like to take a portion of my 401k as a lump sum and put the remainder in an IRA, is that an option or do I have to take it all in a lump sum or roll all of it over?

Hoe old are you and why are you getting distribution?

Assuming you are no longer an active employee at the company where your 401(k) is located - yes, it's possible to do as you suggest. Be aware that any withdrawal is taxed as ordinary income, and you also have the 10% early withdrawal penalty if you are under age 55. The best way to do this is first take a distribution for the amount you want, and then after that do a direct rolloverof the remainder from the 401(k) to the IRA. This will avoid taxes being withheld on the amount that you roll over.