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.
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1 Best answer
Lisa995
Alumni
May 31, 2019 10:11:19 PM
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.
1 Replies
Lisa995
Alumni
May 31, 2019 10:11:19 PM
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.