As a retiree I need to have a low 6 figure 401K pre-tax distribution in December to close on a house. In order to avoid a higher tax bracket as much as possible, can this distribution be spread over multiple years as income?
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There is no income averaging. You can check with the plan and see if they will let you borrow money. But if you take a large distribution it will be taxable.
There is no income averaging. You can check with the plan and see if they will let you borrow money. But if you take a large distribution it will be taxable.
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