I am 64 and took money from my 401k to pay off home mortgage and buy investment property in 2018. 100% of health care premiums now must be repaid. Any Options?
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glh2268
New Member

I am 64 and took money from my 401k to pay off home mortgage and buy investment property in 2018. 100% of health care premiums now must be repaid. Any Options?

Is buying investment property and mortgage pay-off of your residence from a 401k always treated as income?
1 Reply
TaxGuyBill
Level 9

I am 64 and took money from my 401k to pay off home mortgage and buy investment property in 2018. 100% of health care premiums now must be repaid. Any Options?

Other than turning back time and not withdrawing from your 401k, there isn't anything you can do now.

Yes, withdrawing from a 401k is always taxable, unless the contributions were made with after-tax money (which is not common).

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