If I performed an early withdrawal on my 401k and a month later had medical issues that exceed 7.5% AGI, can I claim those medical expenses to waive early withdrawal fee?

posted

If the money withdrawn from your 401(k) was used to pay for medical expenses in excess of the 7.5% AGI, the early withdrawal 10% penalty may be waived by filing Form 5329.

Please review a comprehensive list on the IRS website by clicking on this link:

Early withdrawal penalty exceptions

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

attempting to amend 2024 return to add additional medical expenses. Edit button is active, but next screen doesn't let me change anything

in After you file

Expert does your taxes

Do it yourself

Resources

Support

If I performed an early withdrawal on my 401k and a month later had medical issues that exceed 7.5% AGI, can I claim those medical expenses to waive early withdrawal fee?

If I performed an early withdrawal on my 401k and a month later had medical issues that exceed 7.5% AGI, can I claim those medical expenses to waive early withdrawal fee?

Get more help

Do you have a TurboTax Online account?

If I performed an early withdrawal on my 401k and a month later had medical issues that exceed 7.5% AGI, can I claim those medical expenses to waive early withdrawal fee?

Do you have an Intuit account?

If I performed an early withdrawal on my 401k and a month later had medical issues that exceed 7.5% AGI, can I claim those medical expenses to waive early withdrawal fee?

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