Hi I am 29yrs Old and have $104K in a Rollover Account. I am buying my 1st home and would like to put down 20% and wanted to know if I took out $60K from my account WHAT WOULD I ACUTALLY GET AFTER TAXES ETC?

About $36,000 after yoy factor in your tax when you file.

When they distribute it, they will withhold 20% ($12,000).

Suggestion:

Roll over $10,000 into a rollover IRA. Then make the withdrawal from the IRA under First-Time Homebuyer exception.

You will still pay ordinary income tax (state and federal), but will be exempt from the 10% Early Withdrawal Penalty.

Try some other way to finance your house. The tax consequences of dipping into the 401K is just too high In my opinion.