Discussion:401k Death Benefit Withdrawal
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Discussion Forum Index --> Accounting Questions --> 401k Death Benefit Withdrawal
| 12 January 2008 | |
| Hello, My father just died and he had a 401k. My brother get the 401k and have decided to CASH OUT as we could use the money now. We will each be getting approx 60k.
1) Is this money taxable? If so how much? 2) I have to fill out the "Death Benefit Withdrawal" form and check the box for withholding. DO I have to withhold? 3) Is it usually better to cash out or to roll it into something else? Thank you very much | |
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