The company I work for is selling to another company on October 1, 2019. I have a 401K with the current company. I am 66 years old and plan to retire the end of May 2020. I will have the opportunity to withdraw my 401K OR roll over into the new company's 401K program. We currently have our home for sale as we plan to move to a southern state at my retirement. I want to withdraw part of my 401K funds to purchase our new house in the new state. What might I expect to pay in taxes by withdrawing $100,000 from my 401K during this company change. I intend to put the remainder of my funds into an IRA at my local bank until full retirement next year.
