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Timing of 401k withdrawals

I'm in the process of selling my home and moving to another state.  The timing is tricky, in that I will not have my current home sold and closed, before I have to put down money on a new home.  I also have pay cash for the new home (combo of HELO and cash,) since I will not yet have a job in the new state, and therefore cannot get a mortgage.  Unfortunately the "cash" will be a combo of a HELO, and retirement money drawn from my Roth and Rollover 401k.  I am 60 and so there will be no penalty - but tax implications on the 401k withdrawal. 
So my question is this - if I take a distribution from my 401k in August,  but then when I start a new job in Sept - max out 401k deductions for Sept, Oct, November, December (the company I will join has 401k plan starting Day 1) - will I be taxed on the "Net" distribution number at the end of the year?  The goal is to minimize the tax liability from the August withdrawal?  And also, does the MAGI number only show the net 401k amount as taxable?  Thanks!
This is too good to pass, How is John Steed?

Now to the real thing. Any withdrawal from the Traditional IRA is taxable in the year it is withdrawn. The amounts you enter into the 401K will reduce your income level and in so doing reduce the taxable amount you'll pay. The MAGI covers all income for the year including the net proceeds from the sale of your old home and the IRA withdrawal and any tax-free income you receive.

The tax man is a woeful master when it comes to them 'getting their cut'. Also depending on the state you live, you should make note whether the IRA withdrawals impact you.
There shouldn't be capital gains tax if the profit is below $250k (if this is your primary residence). I believe that number is higher for married people.

Another thought - since you are starting a new job in September, why not roll your previous 401k to the new job and then take a loan against it? That way you pay interest to yourself and do not incur an unnecessary taxable event.
John is just peachy - thank you!  Loved that show!
So while the 401k is taxable as income - the contributions  will lower the overall income. Got it.
But when I sell my house - that’s taxable even if I’ve owned it for 14 yrs and my gross profit will be under $100k?

DoubleDown, Great idea monitor - but not sure I can do that with my rollover account.  I am pretty sure I have to have my money in a company 401k that I am currently employed in.   I am no longer employed there so it's been rolled over.
If you have been living in the house, your gain will be federal-tax free.


States often follow the federal rule in this regard.

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