turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

yuyis
New Member

Can i get an early withdrawal exception for my childs disability

its from my 401k early distribution
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Can i get an early withdrawal exception for my childs disability

Unfortunately the disabled exception applies only to the person that has money in the Plan.  

So there is no exception for a disable child for your 401K distribution. 

For more detail see below: 

Exceptions to 401K are:

http://www.401khelpcenter.com/401k_education/hardship_withdrawal_article.html#.WJtLoVUrKM8

"But to discourage these early hardship withdrawals, in most all cases the IRS imposes a hefty financial penalty including a 10 percent early withdrawal penalty if you are younger than 59 1/2. You may qualify to take a penalty-free withdrawal if you meet one of the following exceptions: You become totally disabled."

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies