In my divorce, there's going to be a split of both a pension and a 401(k). The pension division will be much more difficult than the division of the 401(k) and I'm trying to make some plans for post-divorce, when I move back to my hometown in Ohio. One of the things I'd like to do is to buy a house in my hometown. The values are very low and I could pay cash for one using either the buyout of the pension or the split of the 401(k). Since the pension buyout would be more difficult to do, given the STBE husband would have to come up with a large chunk of money to do it, which he doesn't have, I was considering using the 401(k) to pay cash for the house. What are the tax implications in all this? This wouldn't be my first time buying a house; we're filing Chap. 7 as part of the divorce.Also, to get the entire 401(k) would mean cashing out more than I'd need for the house I'm looking at. Could I opt for a half-cash/half transfer to me in this, too?
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