Hi,
I would like to know if I do early 401k withdraw and I have lost 100k in Stock this year (Realized loss)
Would i be able to not to pay any taxes for withdraw since I have loss money during this year.
Thanks in advance.
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the Tax Code prevents you from doing this sort of thing by limiting your capital loss to no more than $3,000 per year
if you wish, you may take out $3,000 from your 401k (not recommended). You will still have to pay the 10% penalty of $300.
Sorry,
I had loss of 100k this year in my normal account.I would like to withdraw 401k so The loss of 100k can be tax deductible for 401k ? is the loss even for this year is limited to $3000 ?
Thanks,
Taher
sorry but this is your original question and I answered it above.
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