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I received a lump-sum distribution when I retired. Is there any special tax averaging option on a lump-sum distribution?
If taxes are withheld from a distribution from a 401(k) plan, am I required to include the amount of the distribution as income and also pay the 10% additional tax?
Can I withdraw my elective contributions to a 401(k) plan penalty free to build or purchase my first home?
I changed jobs and received a distribution (via check) of my entire vested account under my former employer's 401(k) plan. The plan withheld 20% of my account for Federal Income Taxes. Within 60 days of receiving the distribution, I rolled over the distribution to my current employer's 401(k) plan. Since taxes were withheld from the distribution made by my former employer's plan, do I have to include that money as income?
If I retire or leave my employer for any reason (including due to being laid off) before I am age 59 1/2, can I withdraw my vested benefits under that employer's 401(k) plan, without having to pay a 10% additional tax? What if I were 55 or older when I separated from service with my employer?
Where can I find additional information on various types of tax-favored retirement arrangements?
Category:
Pensions/Annuities/Retirement Plans (i.e., 401(k), etc.)
Back to Frequently Asked Questions
Page Last Reviewed or Updated: December 09, 2008