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mitizi38
New Member

Do I owe additional taxes due to taken money out of early retirment -- I withdrew due to I was behind on my mortgage payments and was ready to loose my home

 
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dmertz
Level 15

Do I owe additional taxes due to taken money out of early retirment -- I withdrew due to I was behind on my mortgage payments and was ready to loose my home

Taking out money to pay your mortgage is not an exception to the early-distribution penalty.

 

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distri...

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