I don't want to take it all out just a partial distribution. When I checked my 401k site it says I can take a hardship withdrawal but my reasons for taking it out are not a hardship.
2007-03-27 04:03:04 · 4 answers · asked by peterkolozvary 1 in Business & Finance ➔ Personal Finance
if you dont do a loan, your only option is a distribution. If you dont qualify for a hardship, or regular withdrawal (older than 59 1/2), then you face taxes & penalties.
You probably would be better off with a loan.
2007-03-27 04:23:37 · answer #1 · answered by ricks 5 · 0⤊ 0⤋
You really can't take it then. Sorry. If you take it, you must take it all or a hardship. If you take it all and don't roll it over into an IRA or another 401K then you pay a hefty tax on it.
2007-03-27 04:12:03 · answer #2 · answered by Pepper 6 · 0⤊ 1⤋
You can do a regular withdrawal. Make sure to have the taxes taken out.
2007-03-27 04:12:55 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can take it out whenever you like... you just have to pay taxes on it and an additional (10%, I believe) excise tax.
2007-03-27 04:08:19 · answer #4 · answered by Akkakk the befuddled 5 · 0⤊ 0⤋