Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

The exception to the 10% early withdrawal penalty for up to $10,000 for first time home buyers is only available for an IRA distribution. It is not available for a 401K distribution.

View solution in original post

1 Reply

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

The exception to the 10% early withdrawal penalty for up to $10,000 for first time home buyers is only available for an IRA distribution. It is not available for a 401K distribution.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

Do you have an Intuit account?

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

Can i avoid the 10% early withdrawal from a 401k if the money is used to purchase a primary residence and have not owned a home for more than 4 years?

Unlock tailored help options in your account.

Get more help

Related Content