Can you get your money out of a 401K without paying taxes on it?
So I am putting money in my 401K as a tax shelter. My plan is to take $5,000 out each year after I retire, and put it in a CD at my bank. If I take out less each year than a single person’s tax exemption (approx. $5,000) and have no other taxable income (only Social Security and a pension), then I won’t have to pay taxes on it, right?
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