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New Member
posted Mar 10, 2025 6:34:11 AM

I made a 401k withdrawal in 2024 to pay for home improvement project. Can I adjust my taxes so I do not have to declare this amount as income?

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1 Replies
Expert Alumni
Mar 10, 2025 6:37:31 AM

No, an early withdrawal for a home improvement project (unless this was due to an emergency or disaster) is unfortunately not an exception to the early withdrawal penalty.

 

Here is some information you may find helpful: What are the exceptions to the penalty for an early withdrawal from my 401(k)?