I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.

MyDisplayName · ‎May 31, 2019

Lisa995 · ‎May 31, 2019

No deductions for using a 401k funds to purchase a home. You will have the income from the 401k (a 1099R should have been sent to you by now) to include on the tax return though.

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

View solution in original post

Lisa995 · ‎May 31, 2019

No deductions for using a 401k funds to purchase a home. You will have the income from the 401k (a 1099R should have been sent to you by now) to include on the tax return though.

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

Expert does your taxes

Do it yourself

Resources

Support

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&amp;Credits section.

Do you have an Intuit account?

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&amp;Credits section.

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&amp;Credits section.

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.

I took a withdraw (not a loan) from my 401k to buy a new home. Is there any way to use this as a deduction? This option isnt availble in the Deductions&Credits section.