Chris asks…How can I withdraw 401K with Penalty or taxes to purchase investment property?I would like to withdraw funds to purchase and investment property from my 401k. the 401K is with an old employer. What is the best way to get the funds without being penalized or paying taxes? Someone told me to transfer to an IRA account. Is that true?
OK, I am 35 and married.admin answers:No.
There are no exceptions to paying the tax.
There are a few exceptions to paying the 10% penalty but this is not one of them.
The same goes for IRAs.Robert
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