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If I withdrew funds from my 401K used to buy a house, are those funds considered income ?

 
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CaronM
Intuit Alumni

If I withdrew funds from my 401K used to buy a house, are those funds considered income ?

Yes, this will be income - you should receive a 1099 showing the amount to report. Depending on the amount, you may also be subject to early withdrawal penalties.

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CaronM
Intuit Alumni

If I withdrew funds from my 401K used to buy a house, are those funds considered income ?

Yes, this will be income - you should receive a 1099 showing the amount to report. Depending on the amount, you may also be subject to early withdrawal penalties.

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