Retirement tax questions

"Hardship" is the only way to get money out of a 401(k) or 403(b) while you still work for the employer, but it doesn't excuse you from either the income tax or the 10% penalty if you are under age 59-1/2.

If this was a private IRA, then you can money out without proving a hardship, but the money is still subject to income tax and penalties.

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