Donna S asked:

I know I can use a loan from my 401k towards the down payment. If I have some money left over from the 401k after that, can I use the rest for the closing costs?


Question posted courtesy of: Chris

soulravah asked:

………..

I have money invested in my 401K.

If I get fired from work, what kind of taxes will I owe if I need to access my 401K for funds, while looking for a new job?

Thanks!


Question posted courtesy of: Gertrude

mishatim asked:

I want to understand if the 401k loan interest schedule is different from a mortgage interest schedule. For example, in a mortgage payment the interest is the most of it. Is it the same with 401k loan?
Reason for asking is to see if it makes financial sense to use 401k loan to pay off a mortgage on a property. Thanks!


Question posted courtesy of: Amy

tooty1117 asked:

I received distribution of a portion of my 2006 401k contributions in early 2007 because of failure of 401k plan for high income earners. I reported this on my 2006 taxes. I received a 1099R in 2008 for 2007. How do I report this since I’ve already included it in 2006 taxes?


Question posted courtesy of: Lillie

praveen_c asked:

Hi,

I left my 401k monies with my old employer. Its been about 20 months since I left them. I would like to rollover this money into my new account with the new employer. Is this possible?

Thanks!


Question posted courtesy of: Mary

Tauhric B asked:

Explain 401K benefits in a way that reached the audience, is easy tof them to understand and emphasize the advantages of a 401K. How can you explain this benefit during employee orientation so that it results in high participation, less confusion and fewer phone calls for clarification.


Question posted courtesy of: Tara

Rick M asked:

I deposited a check from a 401k that I was changing and they took out taxes. Will I get penalized for receiving the check and then depositing it into another 401k account even though they already took out the taxes?


Question posted courtesy of: Lauren

kydadoflouisville asked:

I recently got divorced. I have to sign over 1/2 of my 401k to her. I am thinking of asking her to buy her out less any taxes she would have been charged. What percentage is taken out of a 401k when removed. I am trying to think of an offer to give her. The 401k is not alot. (24,000) She gets 12k. Any Ideas?


Question posted courtesy of: Ethel

nikkisdaddyo2000 asked:

In order to avoid bankruptcy, during a 9 month period of unemployment, It was necessary to take early distribution monthly from 401K for income. Are there any hardship provisions for this type of “forced” early distribution?


Question posted courtesy of: Wilma

zaxxon asked:

What if, in the hypothetical case, I cashed my 401K, paid nothing to the IRS and ran away to a foreign country to never come back to the US?


Question posted courtesy of: Gabriel