Can I avoid paying taxes on a 401k withdrawl?
Posted February 27th, 2009 by admin 6 Comments »
ihatevfsf asked:
I’m refinancing one of my investment properties and i want to know if i do a 401k withdrawal but use that money towards paying for the closing costs and paying down the principal balance on the investment property. I know I will be subject to the IRS 10% penalty however can i deduct the amount paid to reduce principal and cover closing costs.
I’m refinancing one of my investment properties and i want to know if i do a 401k withdrawal but use that money towards paying for the closing costs and paying down the principal balance on the investment property. I know I will be subject to the IRS 10% penalty however can i deduct the amount paid to reduce principal and cover closing costs.