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

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

what do I need to check on the form if I withdrew from a 401k for a first home purchase?

 
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 Best answer

Accepted Solutions
DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

what do I need to check on the form if I withdrew from a 401k for a first home purchase?

There is not an exclusion for the 10% early distribution penalty when the distribution is from a 401(k) account.

That exclusion is only available if the withdrawal was from an IRA account for a first time home purchase.

View solution in original post

1 Reply
DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

what do I need to check on the form if I withdrew from a 401k for a first home purchase?

There is not an exclusion for the 10% early distribution penalty when the distribution is from a 401(k) account.

That exclusion is only available if the withdrawal was from an IRA account for a first time home purchase.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question