My medical premiums were 19K in 2017 and are higher in 2018. Can I withdraw money from my 401K to pay this with paying the 10% penalty. We are not quite 59 1/2.
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: