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Asked 8/16/2009

Can I take money from my 401k to start a small business

I would like to know if I can take funds from my 401k to start a small business tax and penalty free/

 
 
 
 
 
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Answer 1/1 - Submitted 8/16/2009

Starting a business is not one of the acceptable exceptions to the 10% early withdrawl penalty (for either 401(k) or IRA).

 
 
 
 
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