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Asked 11/22/2008
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I was laid off work can I draw out my 401K if I'm unemployed and is there penalities? Laid off work and nee my 401K money |
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I was laid off can i draw out my 401k without penalities to pay bills?
In 2007 i was laid off from my job. at the time i was laid off, i had an outstanding loan against my 401k, which was treated as an early withdrawl. i understand he penalities since i am not 59 1/2. but since i used part of used part of the money to pay for my education, can i deduct the amount that...
I would like to pay off my debt and purchase a home, and wanted to know what the penalities are and also how much would i be taxed at the end of the year?
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Can i draw out my 401k if i'm unemployed and is there penalities? I was laid off can i draw out my 401k without penalities to pay bills? |
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