DanaB27
Expert Alumni

Retirement tax questions

Yes, when you are retiring (59 1/2 older) and you take the distribution from a 401(k) they are always taxable unless you made after-tax contributions but for the excess, you cannot claim that you paid tax on it already. Therefore, you will be taxed again on the excess deferral.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"