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If I used the money from my 401K for home improvement can I deduct it from my taxes?

 
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If I used the money from my 401K for home improvement can I deduct it from my taxes?

No.   Home improvements to your own home are not deductible;  money you took from your retirement account  is taxable.  If you took money out of the 401k in 2020 you will soon receive a 1099R that must be entered on your tax return.

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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