RobertB4444
Employee Tax Expert

[Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill (OBBBA)

No, there is no deduction for having a hard time.  However, you can avoid the 10% penalty that would normally be charged for early withdrawal from a 401K if there were medical expenses that had to paid with the money you took out or if you were over 55 when you were separated from your job.

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"