I HELPED MY DAUGHTER BUY A HOUSE AND I TOOK MONEY OUT OF MY 401K

WOULD THAT COUNT AS FIRST TIME HOME PURCHASE?

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.**

View solution in original post

Retirement tax questions

No. Must be Your first home, Your SSAN ...