topic <empty> in Retirement tax questions

jper13 — Mon, 23 Feb 2026 12:03:04 GMT

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Re: Purchased a home using 401k early withdrawal fund - Situation to lower tax bill option

VolvoGirl — Mon, 20 Feb 2023 18:23:31 GMT

Sorry the penalty exclusion for a home purchase is only from a IRA account not 401K .

Re: Purchased a home using 401k early withdrawal fund - Situation to lower tax bill option

Opus 17 — Mon, 20 Feb 2023 18:31:33 GMT

@VolvoGirl wrote:

Sorry the penalty exclusion for a home purchase is only from a IRA account not 401K .

Although IRAs and 401(k)s have a similar purpose, they are controlled by different sections of the tax law and some of their rules are very different. The penalty exception for a "first time home buyer" only applies to IRAs, not 401(k)s or other workplace plans.

jper13 — Mon, 20 Feb 2023 20:02:44 GMT

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