Spouse’s 401K
My spouse is 2 years older and will be able to withdrawl some of the money from his 401k at 59 1/2 this year. Because I am still working, will there be any penalties associated with his withdrawl when we file our taxes as “married filing jointly”?
Permalink Submitted by mk foss on Thu, 2012-03-08 02:50
As long as he attains age 59-1/2 before he takes the withdrawal there are no penalties. The withdrawal will be taxable. The age of the spouse filing a joint return is not a factor.