azmike74
Hall of Famer
When money is withdrawn early from a 401K, are the taxes paid at the time of withdrawal, or can they be deferred?
And if they are taken at the time of withdrawal, is there a chance not enough was withheld and more taxes would have to be paid later?
Thank you all for any info you can give, my father is losing his memory, getting a divorce, and his soon to be ex is trying to take $14K to use to "pay taxes" on his 401K withdrawal and I don't know if this is a legit claim or not.
And if they are taken at the time of withdrawal, is there a chance not enough was withheld and more taxes would have to be paid later?
Thank you all for any info you can give, my father is losing his memory, getting a divorce, and his soon to be ex is trying to take $14K to use to "pay taxes" on his 401K withdrawal and I don't know if this is a legit claim or not.