I am currently out of Long Term Disability. I have 34k in a 401k with a 16k loan already on it. I wanted to withdraw a portion of this as hardship but my company stated that since I am out on leave I have to take the whole 34k. What kind of taxes am I facing? I have over 10k in charges and was just raised 500.00 additional to my rent and cannot meet this at the time.
What are my options. I am 64 years old.

Thank you,

Since you are over 59-1/2, you will only have to pay income taxes on the $34K (no 10% penalty).