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    williamjstringer's Avatar
    williamjstringer Posts: 2, Reputation: 1
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    #1

    May 21, 2007, 12:54 PM
    401k taxes and penaltys
    Can I withdraw money from my 401k account when I'm 59-1/2 years old without penalties
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    May 21, 2007, 01:02 PM
    Yes. You'll pay income taxes on the withdrawal, but no penalties.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    May 22, 2007, 05:03 PM
    Agreed!
    williamjstringer's Avatar
    williamjstringer Posts: 2, Reputation: 1
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    #4

    Sep 1, 2007, 05:16 PM
    Quote Originally Posted by williamjstringer
    can i withdraw money from my 401k account when im 59-1/2 years old without penalties
    can I take a lump sum distribution from my 401k without retiring
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    Sep 4, 2007, 09:46 AM
    Yes, once you hit 59.5 years of age.
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