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Asked 12/10/2008

Need to withdrowal money to pay property tax

I owe back property tax can i withdrowal money from my 401k

 
 
 
 
 
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Answer 1/1 - Submitted 12/10/2008

You can withdraw it, but the money is subject to a 10% penalty if you are under 59 1/2. As well you will pay income tax on the money according to your tax bracket.

 
 
 
 
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