Took out $6K from my 401K for a down payment on home in 2014. Didn't claim this on '14 income tax. Now IRS wants $2,493 for that withdraw. How can this be fixed?

whitnight1234 · ‎June 4, 2019

jerry2000 · ‎June 4, 2019

The only way to fix it is to pay the IRS bill. That use of 401k funds is not an exception to the penalty for early withdrawal and it is fully taxable as ordinary income. There is nothing to do but to pay the bill.

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jerry2000 · ‎June 4, 2019

The only way to fix it is to pay the IRS bill. That use of 401k funds is not an exception to the penalty for early withdrawal and it is fully taxable as ordinary income. There is nothing to do but to pay the bill.

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Took out $6K from my 401K for a down payment on home in 2014. Didn't claim this on '14 income tax. Now IRS wants $2,493 for that withdraw. How can this be fixed?

Took out $6K from my 401K for a down payment on home in 2014. Didn't claim this on '14 income tax. Now IRS wants $2,493 for that withdraw. How can this be fixed?

Took out $6K from my 401K for a down payment on home in 2014. Didn't claim this on '14 income tax. Now IRS wants $2,493 for that withdraw. How can this be fixed?

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Took out $6K from my 401K for a down payment on home in 2014. Didn't claim this on '14 income tax. Now IRS wants $2,493 for that withdraw. How can this be fixed?

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Took out $6K from my 401K for a down payment on home in 2014. Didn't claim this on '14 income tax. Now IRS wants $2,493 for that withdraw. How can this be fixed?

Took out $6K from my 401K for a down payment on home in 2014. Didn't claim this on '14 income tax. Now IRS wants $2,493 for that withdraw. How can this be fixed?

Unlock tailored help options in your account.

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