https://ttlc.intuit.com/community/retirement/discussion/what-if-my-dad-took-10000-from-his-401k-to-help-me-from-losing-home-to-forclosure-is-that-a-hardship/01/409063#M36939 The home is under my name and Im not his dependent. Tue, 04 Jun 2019 20:28:09 GMT tguzman88 2019-06-04T20:28:09Z https://ttlc.intuit.com/community/retirement/discussion/what-if-my-dad-took-10000-from-his-401k-to-help-me-from-losing-home-to-forclosure-is-that-a-hardship/01/409063#M36939 The home is under my name and Im not his dependent. Tue, 04 Jun 2019 20:28:09 GMT https://ttlc.intuit.com/community/retirement/discussion/what-if-my-dad-took-10000-from-his-401k-to-help-me-from-losing-home-to-forclosure-is-that-a-hardship/01/409063#M36939 tguzman88 2019-06-04T20:28:09Z https://ttlc.intuit.com/community/retirement/discussion/unfortunately-taking-a-401-k-distribution-to-avoid-for/01/409067#M36940 <P>Unfortunately, taking a 401(k) distribution, to avoid foreclosure does not qualify for the hardship exemption to avoid the 10% penalty.</P><P>However if your dad was over 59 1/2 on December 31, 2016, or separated from his job after age 55, the 10% penalty can be avoided.</P><P></P><P>See <A href="https://ttlc.intuit.com/questions/3263721-what-s-the-penalty-on-a-401-k-hardship-withdrawal" target="_blank"><B>https://ttlc.intuit.com/questions/3263721-what-s-the-penalty-on-a-401-k-hardship-withdrawal</B></A></P> Tue, 04 Jun 2019 20:28:10 GMT https://ttlc.intuit.com/community/retirement/discussion/unfortunately-taking-a-401-k-distribution-to-avoid-for/01/409067#M36940 Marketstar 2019-06-04T20:28:10Z