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Asked 9/26/2008
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For a non-spousal inherited 401K with date of death in 2003, Can 26 yr old beneficiary roll it into a retirement account such as IRA, 401K, without incurring tax? Money must be withdrawn from the original 401K by 12/31/08. |
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If the inherited amount is about $100k. how much will be lost to taxes an penalties?
Also if the suviving spouse is diabled medically how does this affect their own 401k withdrawls, and their deceased 401k fund distribution?
I am 26 years old and currently have $25k in my 401k plan. i want to quit work next year (i make 70k and contribute 8%, my company matches up to 5%) and be a stay-at-home mom for a few years, maybe even 5, before i return to the work force again. i am not sure what the best option is for my 401k....
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What is the tax rate on an inherited 401k If the inherited amount is about $100k. how much will be lost to taxes an penalties? |
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