David W. asked
I want to downsize my home and temporarily withdraw funds from my 401(k)/IRA accounts to use as a down payment on a new home. I am 70 years old and plan to replace the funds from the sale of my current home within the same tax year. Can I avoid paying withdrawal tax if I pay the funds back within the same year, and what are the penalties if I exceed the 60-day repayment period?
December 18th, 2023
Curtis S. answered
If you withdraw funds from your 401(k) or IRA to use as a down payment on a new home, you can avoid ...
December 18th, 2023
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