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Hello, I have a 401K worth roughly 30K, but I am interested in cashing it in to assist in the down payment of purchasing a house. What kind of penalties/taxes might I encounter and is this a really dumb idea? The other part of the money would come from selling stock, which I know there will be a...
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I cashed in my 401K. I had them take out 35%. Should this cover all taxes? I live in Alabama. Or am I still going to owe more when I file? The 35% covers the penaty also.
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