incorrect- quote from irs website - Saab General Bulletin Board - Saabnet.com
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incorrect- quote from irs website
Posted by tturbboy (more from tturbboy) on Wed, 4 Feb 2004 10:52:32
In Reply to: Re: OT-Can I take $$ from 401K toward home purchase>>, EAL, Wed, 4 Feb 2004 09:09:52
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If you are under the age of 59 1/2, you cannot withdraw funds from your 401(k) plan to purchase your first home without being subject to a 10 percent additional tax on early distributions from qualified retirement plans. However, depending on the rules for your 401(k) plan, you may be able to borrow money from your 401(k) to purchase your first home. Your plan administrator should have written information about your particular plan that explains when you can borrow funds from your 401(k) plan as well as other plan rules.
posted by 208.31.4...
http://www.irs.gov/faqs/faq-kw9.html
Posts in this Thread:
- OT-Can I take $$ from 401K toward home purchase>>, elSVT, Wed, 4 Feb 2004 08:35:14
- Re: OT-Can I take $$ from 401K toward home purchase>>, EGD , Wed, 4 Feb 2004 22:11:40
- Don't do it!, J, Wed, 4 Feb 2004 21:03:25
- Is 20% the problem, PMI?, Randy Thatcher , Wed, 4 Feb 2004 11:15:49
- Re: OT-Can I take $$ from 401K toward home purchase>>, gizmo , Wed, 4 Feb 2004 10:04:53
- better idea, jeff, Wed, 4 Feb 2004 09:38:49
- Re: OT-Can I take $$ from 401K toward home purchase>>, compaqted, Wed, 4 Feb 2004 09:02:54
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