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401 k taxes and penalties
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I currently hold about $20,000 in my 401k plan through my employer. My question is, if I were to talk that money out as a early withdrawal, does this money get added to my total income for the year as additional income. I spoke to a plan supervisor and they went over that I will be required to pay...
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I was forced to take an early retirement package. I was 53 yrs old I need to cash in my 401k because I need to clear up some bills, repair my auto and I wanted to make some home improvements. I had to pay 20% penalty on 35K (7,000) for cashing 401k early... now while doing my takes I see I must...
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Is it true. That in the state of Oregon. You can Do a Hardship withdrawal on 401k and pay taxes on the amount you receive at the end of the tax year. Or is it mandated that you pay all taxes up front prior to withdrawal. View more questions Search
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