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New Member
posted Jun 1, 2019 5:43:46 PM

I withdrew 401k early due to becoming homeless. Any relief in tax withheld

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1 Best answer
Expert Alumni
Jun 1, 2019 5:43:48 PM

Unfortunately, this is not an exception to the early withdrawal penalty of 10% if you are aged 59 1/2 or less. Your withdrawal is taxable and is subject to the early withdrawal penalty.

2 Replies
New Member
Jun 1, 2019 5:43:47 PM

I'm unemployed and don't have income or a place to live that is safe. I am a recovered alcoholic trying to get on track. Need money to do that

Expert Alumni
Jun 1, 2019 5:43:48 PM

Unfortunately, this is not an exception to the early withdrawal penalty of 10% if you are aged 59 1/2 or less. Your withdrawal is taxable and is subject to the early withdrawal penalty.