Rachel_W
Expert Alumni

Retirement tax questions

Unfortunately, withdrawing money before you reach the age of 59 1/2 from your 401(k) in order to pay Medical Premiums is not an Exception to the 10% Penalty for Early Withdrawal.  

This Exception to the Penalty is only available for Unemployed Individuals who are withdrawing money from their IRA Account, not from a 401(k).   

Check out the TurboTax FAQ below to see if you might qualify for one of the other Exceptions to the 10% Penalty on Early Distributions Retirement Plans:

https://ttlc.intuit.com/replies/3301632