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Get your taxes done using TurboTax
The withdrawal from your 401(k) has to be included in taxable income and could be subject to a 10% penalty if you're under 59.5 years old. Even though preventing eviction is a valid reason for a hardship withdrawal, it doesn't qualify for an exception to the early withdrawal penalty.
For a list of what types of distributions qualify for the exception to the early withdrawal penalty, see Retirement topics - exceptions to tax on early withdrawals.
‎January 31, 2025
6:33 PM
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