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    GTERRY7776's Avatar
    GTERRY7776 Posts: 1, Reputation: 1
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    #1

    Aug 24, 2013, 06:10 PM
    I'm almost 61 1/2. I'm also disabled. What are the 401k rules for with drawing from
    I want to buy a condo. I'm 61 and disabled. How does this effect a withdrawal from my 401k?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Aug 24, 2013, 06:28 PM
    It has no effect. Your age negates any Early Withdrawal Penalty, but you will pay ordinary income tax to both the IRS and the state on the distribution from the 401k.
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