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I HELPED MY DAUGHTER BUY A HOUSE AND I TOOK MONEY OUT OF MY 401K
WOULD THAT COUNT AS FIRST TIME HOME PURCHASE?
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June 5, 2019
4:07 PM
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Retirement tax questions
And, taking money out of a 401k to purchase a first home is not an exception to the early withdrawal penalty like it could be for a traditional IRA. You should have a 1099R for the distribution from your 401k.
Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
June 5, 2019
4:07 PM