Can't you take a loan from your 401k for a house?* Archived Message
Posted by gvibes on March 5, 2017, 11:07:18, in reply to "Wife has her mind set on a new house. Short of planting a dead rat in the new houses closet ..."
Previous Message She wont budge. I am fighting a losing battle here Previous Message Do you need the entire amount now for a large purchase? If not, there are other options that would not involve either a penalty or a large one-year tax hit. Previous Message If I were to close out one of my 401k's and the amount is 100k. I know aobut the tax hit but what amount gets added to your income tax return the following year? Does the 1099-R form you receive show 100k or is it the amount you get after the taxes?
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