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QUESTION DETAIL
Related User
Votes
How can I withdraw money from my 401K without paying taxes up front? I am 66 years old.
ANSWER
The BIDaWIZ Team's Answer:
You have reached retirement age, so the distribution is not subject to
a penalty; it is only subject to tax, at your highest marginal tax rate. You
may instruct the plan administrator not to withhold taxes, and instead,
pay the tax, at year end, when you file your tax return.
