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Tax, SDIRAs & Cost Segregation

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Ryan Cole
  • Winter Garden, FL
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11
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Hurricane Irma/Harvey 401k Withdrawal?

Ryan Cole
  • Winter Garden, FL
Posted Jan 17 2018, 12:08

Wondering if anyone has done this. I didn't even realize this was an option, but saw today that I can take up to $6,000 out of my 401k for Hurricane relief with no paperwork or proof of hardship (and only a 10% tax rate). I live in the heart of Florida where Irma came through. The property didn't have any real major damage, but there are some upgrades I want to do. Would I be able to use this Relief withdraw for some upgrades?

Thanks!

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