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Level 1

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?

 
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Level 20

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.

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Level 20

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.