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slese1
Mar 26, 2007, 09:41 AM
I have cashed in my 401K and know I have 60 days to reinvest to avoid penalties. However, I now need surgery and was wondering if I could use some of my 401K money to pay for the surgery and not suffer penalties... is that possible?

ScottGem
Mar 26, 2007, 09:44 AM
One of the allowable reasons for hardship withdrawal is for medical expenses. So you can use the money for that without paying the 10% penalty. You will still need to pay the taxes though.