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Retirement tax questions
Not having a home mortgage sounds great in theory, but you may end up paying 20% on the withdrawal, and also lose your interest deduction. If you roll the funds into a Roth, you will pay taxes on them. That is because the 401K funds have never been taxed.
I would suggest talking this over with a financial advisor and coming up with a way to avoid those taxes.
‎October 13, 2021
9:36 AM
1,560 Views