topic Will Turbo Tax software help in defining "Exemptions" for IRA/401K early withdrawals??? in Get your taxes done using TurboTax

Will Turbo Tax software help in defining "Exemptions" for IRA/401K early withdrawals???

Alpha26 — Tue, 10 Mar 2026 06:57:00 GMT

Will Turbo Tax software assist in defining Exemptions (Hardship) IRA/401K Early withdrawals of 401k/IRA when filing taxes? I believe it may be Form 5329???

Under age of 55 and would get 10% penalty unless exemption exist (which they do).

Re: Will Turbo Tax software help in defining "Hardship" IRA/401K early withdrawals???

DoninGA — Wed, 16 Nov 2022 18:42:02 GMT

There are no 'hardship' exceptions for the 10% early distribution penalty for either a 401(k) or an IRA.

Go to this IRS Tax Topic for 401(k) exceptions - https://www.irs.gov/taxtopics/tc558

Go to this IRS Tax Topic for IRA exceptions - https://www.irs.gov/taxtopics/tc557