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Asked 12/29/2010
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Are there any new rules for Hardship Withdrawrals from 401K's for 2010? My husband was laid off for almost 2.5 years and we had to dip into our 401K to pay for our mortgage, property taxes and also Cobra insurance. I know that there is a hardship provision for medical insurance, but we had to take out much more just to stay in our home. He is currently employed but we are contemplating our tax return and wondering is there is any way around penalties. Thanks so much for any assistance you can give us. |
Answer 1/2 - Submitted 12/29/2010
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