topic I received my 1099-r and the distribution code 1 but i withdrew money from my 401 k for my down payment and closing cost on my home in 2016 . Is this right ? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/i-received-my-1099-r-and-the-distribution-code-1-but-i-withdrew-money-from-my-401-k-for-my-down/01/144678#M11146 Sat, 01 Jun 2019 07:19:44 GMT bbprince123 2019-06-01T07:19:44Z I received my 1099-r and the distribution code 1 but i withdrew money from my 401 k for my down payment and closing cost on my home in 2016 . Is this right ? https://ttlc.intuit.com/community/retirement/discussion/i-received-my-1099-r-and-the-distribution-code-1-but-i-withdrew-money-from-my-401-k-for-my-down/01/144678#M11146 Sat, 01 Jun 2019 07:19:44 GMT https://ttlc.intuit.com/community/retirement/discussion/i-received-my-1099-r-and-the-distribution-code-1-but-i-withdrew-money-from-my-401-k-for-my-down/01/144678#M11146 bbprince123 2019-06-01T07:19:44Z A distribution code of 1 means early withdrawal, no penal... https://ttlc.intuit.com/community/retirement/discussion/a-distribution-code-of-1-means-early-withdrawal-no-penal/01/144686#M11147 A distribution code of 1 means early withdrawal, no penalty exception.<BR />Using 401k money to buy a home is not an exception to the penalty for early withdrawal, and the distribution is fully taxable as ordinary income. Sat, 01 Jun 2019 07:19:46 GMT https://ttlc.intuit.com/community/retirement/discussion/a-distribution-code-of-1-means-early-withdrawal-no-penal/01/144686#M11147 jerry2000 2019-06-01T07:19:46Z