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Author: telone One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Removing Stock from 401K Date: 1/12/2000 7:37 AM
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Some time back there was a Question by a person who retired from a company and had large company stock holdings in his 401K. I recall a response which discussed withdrawing the stock from the 401K through the use of an IRS Form 4972 to reduce taxes. In my situation, I have about $16,000 in one stock (of a joint venture) with a cost basis of $4,500 and a second stock (of the joint venture)worth $230,000 with a cost basis of $76,000. I am 66 and do not need the money now. I am in the 30+% income tax bracket with an annual income over $150,000.
Can some knowledgable fool (Pixy?) offer me some advice on a strategy to lower my tax burden (with regard to these stock holdings in my 401K) so that I do not have to pay high "ordinary income" taxes when I start forced withdrawals at 70 and 1/2? Thanks.
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