topic I thought if I made a withdraw from my 401k and used the money for a down payment on my new home. Then there wouldn't be a penalty. in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/i-thought-if-i-made-a-withdraw-from-my-401k-and-used-the-money-for-a-down-payment-on-my-new-home/01/546013#M50981 Wed, 05 Jun 2019 05:01:19 GMT vj1980 2019-06-05T05:01:19Z I thought if I made a withdraw from my 401k and used the money for a down payment on my new home. Then there wouldn't be a penalty. https://ttlc.intuit.com/community/retirement/discussion/i-thought-if-i-made-a-withdraw-from-my-401k-and-used-the-money-for-a-down-payment-on-my-new-home/01/546013#M50981 Wed, 05 Jun 2019 05:01:19 GMT https://ttlc.intuit.com/community/retirement/discussion/i-thought-if-i-made-a-withdraw-from-my-401k-and-used-the-money-for-a-down-payment-on-my-new-home/01/546013#M50981 vj1980 2019-06-05T05:01:19Z Ohhh, no, that only applies to IRA distributions, not 401... https://ttlc.intuit.com/community/retirement/discussion/ohhh-no-that-only-applies-to-ira-distributions-not-401/01/546017#M50982 <P>Ohhh, no, that only applies to IRA distributions, not 401K distributions.&nbsp; </P><P>If you had rolled your 401k into an IRA, then took&nbsp;the money from the IRA, you could get exception to the penalty on the first $10,000.<BR /></P> Wed, 05 Jun 2019 05:01:21 GMT https://ttlc.intuit.com/community/retirement/discussion/ohhh-no-that-only-applies-to-ira-distributions-not-401/01/546017#M50982 Lisa995 2019-06-05T05:01:21Z
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topic I thought if I made a withdraw from my 401k and used the money for a down payment on my new home. Then there wouldn't be a penalty. in Retirement tax questions
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I thought if I made a withdraw from my 401k and used the money for a down payment on my new home. Then there wouldn't be a penalty.
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Ohhh, no, that only applies to IRA distributions, not 401...
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<P>Ohhh, no, that only applies to IRA distributions, not 401K distributions.&nbsp; </P><P>If you had rolled your 401k into an IRA, then took&nbsp;the money from the IRA, you could get exception to the penalty on the first $10,000.<BR /></P>
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