Taxes
I have two years to pull my 401K out. I haven’t paid any taxes. What should I do before I get some of my money out. I need to know what I should do now. I need some help please. I have both of ED SLOTT books. Thank you and have a nice day.
I have two years to pull my 401K out. I haven’t paid any taxes. What should I do before I get some of my money out. I need to know what I should do now. I need some help please. I have both of ED SLOTT books. Thank you and have a nice day.
Permalink Submitted by Alan - IRA critic on Wed, 2022-09-28 20:33
Why do you have 2 years? The usual action for a former 401k accounts is a direct rollover to an IRA. This would not be taxable and there would be no taxes withheld. You would need to set up an IRA with a chosen IRA custodian to receive the rollover.