Hello AllenHsr, Congratulations on your upcoming move.
403(b) and 401(k) distributions are taxed as ordinary income and can be subject to a 10% early withdraw penalty if you are under 59 1/2 years old when the distribution is taken.
I would suggest you speak with a financial advisor to determine the impact of taking the distributions to finance your out of state move. A financial advisor will assist you in reviewing whether it is more beneficial for your situation to pay the tax and possibly penalties or if it would be better to allow the funds to continue to grow.
Thank you,
Loretta P
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