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New Member
posted Jun 4, 2019 5:14:23 PM

I just entered the distribution from my 401(k) (Form 1099-R) that I used to purchase my first home. Where do I enter this so that part of is it exempt from the penaltytax

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Alumni
Jun 4, 2019 5:14:24 PM

You don't. Unfortunately the exception to the penalty for early withdrawal applies only to a withdrawal from an IRA. It does not apply to a 401k withdrawal for that purpose.

2 Replies
Alumni
Jun 4, 2019 5:14:24 PM

You don't. Unfortunately the exception to the penalty for early withdrawal applies only to a withdrawal from an IRA. It does not apply to a 401k withdrawal for that purpose.

New Member
Jun 4, 2019 5:14:25 PM

Thank you for the quick response jerry2000!