Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Are there tax consequences for withdrawing funds?

April 26, 2017consequences funds tax WITHDRAWING

0

10 Posted

Are there tax consequences for withdrawing funds?

1 Answer

0

10 Posted

A withdrawal from a Qualified Plan may be taxable in whole or in part. If you are under age 59½, it may also be subject to additional tax penalties unless an exception applies. We do not give tax and legal advice. We suggest that you contact a tax advisor to review your particular circumstances.