401k distribution for purchase of home
[DOC File]CHAPTER 1
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(1) An applicant “sold” her home to her daughter for $10,000. The home was valued at $89,000 and had no loans secured against it. Broker fees and settlement costs are estimated at $1,800. $89,000 Market value - 1,800 Fees. $87,200 Cash value - 10,000 Sales price to daughter. $77,200 Asset disposed of for less than fair market value
[DOC File]Using Your IRA or 401 K to purchase Real Estate
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If distribution less than minimum annual requirement, penalty of 50% of amount that should have been distributed. Distributions before age 59 1/2. Generally taxable and subject to 10% early withdrawal penalty, unless exceptions: $10,000 not penalized (but taxable) if withdrawn for first-time home purchase.
[DOC File]401K PLANS - LexisNexis
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3G Wireless. 401K Plans. A. Abortion Abrasive Product Mfg Academic Admissions Academic Freedom Academic Standards & Testing Academic Tenure Academic Testing Accident Investigations Accidental Death & Dismemberment Insurance Accidental Fatalities Accidents Account Aggregation Accounting Accounting & Auditing Firms Accounting Standards Accounting, Tax & Auditing Services Accounts …
[DOC File]SUMMARY PLAN DESCRIPTION
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(2) If you received distribution of your vested Account and you repay the full amount of the distribution before the end of the five-year period that begins on the date you are re-employed. Example: Assume you terminate employment with your Employer in 2003 with an …
[DOC File]XYZ SAMPLE COMPANY'S 401(K) PLAN
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In addition, a distribution of the earnings on the Roth 401(k) deferrals will not be subject to tax if the distribution is a "qualified" distribution. A "qualified" distribution is one that is made after you have attained age 59 1/2 or is made on account of your death or disability.
[DOC File]SAMPLE PROFIT SHARING PLAN
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If a mandatory distribution is being made to you because your vested interest in the Plan does not exceed $5,000 and the amount of the distribution exceeds $1,000, then the law may require that your distribution be directly rolled over to an IRA.
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