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Cashed out 401k to purchase primary residence. There is no mortgage, what if any tax breaks or credits are we entitled to?
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posted
June 4, 2019
4:07 PM
last updated
June 04, 2019
4:07 PM


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Cashed out 401k to purchase primary residence. There is no mortgage, what if any tax breaks or credits are we entitled to?
Nothing for the 401K cash out. It is taxable and a 10% Early Withdrawal Penalty if you are under 59 1/2. And it will probably push you into a higher tax bracket. You can deduct property taxes on the house if you itemize deductions.
June 4, 2019
4:07 PM
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