Get Answers About 401 K

I am 61 years old and i want to withdraw my all of my 401 k from a past employer.

Will i have to pay the 10% penalty if i don't roll it over to a new ira plan. What if i need the $ now to fix up my home to sell it?

Answered 1/30/2012 6:59 PM | Answer This | 3 Answers | See Question

If I took a loan from my NC 401 K Plan, do I have to pay taxes on it?

I borrowed $2000 on Oct 10, 2011 from my NC 401 K Plan. As long as I am paying on the loan, do I have to pay taxes?

Answered 1/26/2012 | Answer This | 1 Answer | See Question

Firestone 401 k or stock

I worked at firestone in 1983 - 1984 would i have any firestone stock or a 401 account now? thanks.

Asked 1/23/2012 | Answer This | 0 Answers | See Question

I live in Minnesota. If I cash in a 401 K in 09 will I also owe state income tax on the money as well as the federal tax? T...

I have estimated the penalty and tax for married filing separate to be approximately $26500. If I pay MN state tax as well it would be another 8% of the $78000 or $6240. I am not sure if this is a correct estimate.

Answered 1/23/2012 | Answer This | 1 Answer | See Question

Should i roll over my 401(k)?

Answered 1/15/2012 | Answer This | 3 Answers | See Question

401 k

My father passed away in 2000. He had a 401K with a company he retired from but had no one named as beneficiary (my parents were divorced) but had requested the paperwork from the company. He died before he could...

Answered 1/13/2012 | Answer This | 1 Answer | See Question

401-k loan default

I took a loan out of my 401-k inMay of 2008.Imade payments till October when i went on dissability. Now loan in default and i never planed for any of tnis. I was approved for Social Security since April 2009. Any...

Answered 12/21/2011 | Answer This | 2 Answers | See Question

I have some stock options with my employer

I have some stock options with my employer, who also matches my 401(k) contribution with company stock. I don’t have any other investments, and I’m 25 years old. Should I sell some of my shares now even if I’m...

Answered 12/14/2011 | Answer This | 11 Answers | See Question

Is there a certain minimum balance i have to have in order to take money out for rent?

I need to take out a certain amount out of my 401 k and was wondering if i needed a minimum amount in it, in order to take it out? thanks

Answered 12/13/2011 | Answer This | 3 Answers | See Question

403(b) and SEP (401(k)

I am self-employed with a SEP 401(k), and also have a part-time job with a 403(b). Id I contribute $5K/yr to my 403(b), how does it effect my SEP 401(k)?

Answered 12/5/2011 | Answer This | 1 Answer | See Question

Traditionarl 401k or roth 401(k)?

I'm 23, just finished college and started working. My employer offers a 401k or a Roth 401 (k) plan and I don't know which way to go. I'm thinking about going with the Roth, because I plan on making...

Answered 11/13/2007 | View Answer | See Question

401 k lump sum payout. worked/lived in md, then moved to va. is 401k taxed for state as well as fed?

Last year I lived in MD and had a 401 k with my company. I then got a new job in May 2007 in VA so.... I quit my MD job, and moved to VA. Within a month (June) I decided to cash out that 401 k from my old company...

Answered 2/15/2008 | View Answer | See Question

If my husband has a 401k at work and i am older and retire before he does,can some of the 401 k be taken?

Answered 10/8/2007 | View Answer | See Question

Question about the solo 401 k retirement plan for self-employed?

I have run a consulting business full-time for the past five years. I now want to accept a great opportuntiy to take a full-time job that requires me to shut down my business. In fact, a client wants me to go with...

Answered 7/26/2007 | View Answer | See Question

401(k) lump sum distribution state tax?

I am a full year resident of MA, I worked in RI for 5 years and when I left the job I cashed out my 401(k). Do I have to pay state taxes to RI for the 401k distribution ( I will be paying MA for it)

Answered 4/17/2007 | View Answer | See Question

Can a 401(k) impact college financial aid?

I currently have a 529 plan through New York State for both of my children. I have a 403b (401k for non profit). I was thinking that I would love to start 401(k)'s for my children who are 2 and 4 years old....

Answered 6/7/2007 | View Answer | See Question

401 k tax question?

I"m working on my income taxes and have two questions. First of all do I report the money in my current 401 k plan, if so where, i"m using 1040 A form ? Second question, I compeleted a 401k rollover from...

Answered 2/25/2007 | View Answer | See Question

About 401 k?

i worked for this company almost 2 years and they put 50 cents an hour into my 401 k . so i worked about 50 to 60 hours a week for the last two years and a few days ago i called that company to check my balance...

Answered 4/2/2007 | View Answer | See Question

Max out 401(k), or add in index funds?

Assume a situation where a mid 30's adult can invest 15% of their yearly salary. They work for a company who's match for 401k is 6%. Assuming the individual is not eligible to contribute to a Roth IRA,...

Answered 2/5/2008 | View Answer | See Question