Tashe' Gray
Region: US
Thursday 06 June 2024 14:08:54 GMT
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English :
No penalty if you take it out the 401k with hardship. Bills emergency
2024-06-07 00:30:10
320
Mesha :
I withdraw every 3-4 months and never pay attention to taxes
2024-06-08 18:11:11
91
kpcoach23 :
Yep!!! I did it!!! Paid penalty and never looked back… I didn’t owe anything, but it was added to my income for that year!!! My mindset is I’ll spend it while I’m healthy.
2024-06-06 23:34:17
1223
Imani Carter :
I moved it into a Roth IRA. No penalty
2024-06-07 13:52:16
113
summer9737 :
I did I took out mine It was 18 thousand. they took 2 thousand for taxes and penalties for taking it early.
2024-06-06 15:55:26
118
Nikkinate3 :
Yes you can but make sure they take the taxes out before you withdraw. So you don’t owe at the end off the year
2024-06-06 15:54:55
288
Adriana 🥰 :
I withdrew mine. I paid the percentage and they give you the option to pay the taxes then or when you file taxes. They can also take the amount of taxes you will need to pay from the amount you will get so you don't have to pay out of pocket.
2025-04-09 17:07:53
38
BarnesGirl :
You’ll pay about 30% total. Keep in mind that money will be considered earned income for the year when u file ur taxes.
2024-06-06 16:10:32
23
Uknwn. :
yes left with 20k and hit with a penalty at tax time like 500$ and didnt sweat. ex postal employee
2024-06-08 01:08:44
136
user1151712886159 :
Yes, it’s a hefty penalty and tax(approx33%)!!!!
2024-06-06 14:26:51
58
Humble :
Yes 10% of what you make but I would advise anyone to do this because you only have one life to live and when I did it I never looked back
2024-06-08 08:27:16
323
Tell me more 37 :
I think you can take a loan from it
2024-06-06 21:09:31
28
LyAshae :
Yes, I just did it in 2023.. I didn’t owe anything this year when I filed my taxes .. just the normals taxes they take at time of withdrawal
2024-06-10 03:46:58
41
HV7517 :
I did a partial withdrawal to pay credit cards. I got hit 20% Fed taxes and State tax. When we filed our taxes, we were placed in high tax bracket because that $$ is now added income..
2024-06-06 14:26:42
31
mountainMamacoco :
me! I'm in CA, and quit my job last year.Had to pay 10% to pull, then between state&fed tax was roughly 20%. check got cut for $13k, full amount was 17k, but the actual dollars I contributed was++
2024-06-06 16:09:20
25
🧜🏾♀️Ariell | Mermaid🧜🏾♀️ :
Yes ma’am. I did not owe taxes at the end but I do live in IL don’t know if that makes a difference
2024-06-06 14:13:08
47
TootToot & Mommy :
Yes, it’s a huge penalty. Roll it over into an annuity. You can then set it up to receive a monthly payment to yourself.
2024-06-06 17:05:55
71
Beautyfromtheboot :
They took their portion out and that was a wrap. The results was, it was money well spent I tell u that 😂
2024-06-10 03:19:22
10
all.the.waffles :
30% maybe? Best decision ever— I bought a house with it, which seemed like a smarter investment. I can sell it in 35 years and take the cash for retirement instead 🙃🙃🙃
2024-06-08 05:01:02
94
simplycomplexjen :
Shid I did once when I think my job was ending I can’t remember I wonder about that later . I had to live ! Worried about them taxes later . I’m still here 😩🤣🤣😂 do what’s BEST 4 U!
2024-06-08 00:29:34
60
paris :
Yes it’s taxed %20 at the time of withdrawal and then you also have to file it on your taxes. They will send you a 1099 to file. You can split the penalty over 3 years tho so it’s less of an impact.
2024-06-09 04:25:37
59
1Qweenkedajay :
I withdrew my 401k, when left my job no penalty no taxes paid, I think if you leave the job you have a option of transferring money or check/deposit
2024-07-18 19:55:31
32
Deedee51 :
I did 25 years of service for the state I had enough
2025-04-16 00:32:26
6
Ketta :
U pay the penalty & u have to claim it as income at the end of the year. I owed because the additional income put me into another tax bracket.
2024-06-06 14:25:00
48
vickiewi836 :
10% withdraw penalty and 10% tax for federal. State tax it when I filed taxes.
2024-06-06 14:50:44
37
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