How does using part of your 401k funds affect your taxes? If you are using it to purchase a home.

Asked by Zenida, Queens, NY Sun Jun 15, 2008

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Cori Kaplan, , Huntington, NY
Sun Jun 15, 2008
Hi Zenida,

If you take out funds from a401k before you turn 59 1/2 years of age, you will have to take a penalty of 10%.

Cori Kaplan
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