Cashing Out 401k To Buy A House -

: The withdrawal is treated as ordinary income, taxed at your marginal rate.

: Unlike IRAs, 401(k) plans do not have a specific penalty exemption for first-time homebuyers. The 401(k) Loan Alternative cashing out 401k to buy a house

: If you are under age 59½, the IRS typically charges a 10% early withdrawal penalty. : The withdrawal is treated as ordinary income,