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Dear Dave(?) -

You didn't mention your age... and I'm assuming you
are over 59 1/2, so your withdrawal will NOT be subject to the IRS 10% penalty...

That being said, why not roll the 401k money into IRA?
If you are paid off, you'll declare the entire sum ($80k) of income & pay tax on the entirety. By rolling into IRA you can control the flow of funds to minimize taxes & then re-invest the IRA withdrawals made over time.

Just my opinion...

Good luck, PP
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