topic What are the valid &quot;other&quot; reasons I can claim early withdrawal on my 401k? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/what-are-the-valid-other-reasons-i-can-claim-early-withdrawal-on-my-401k/01/555245#M51928 <P>I took out my 401k as an early withdrawal. Was taxed on it at the time. I used it money to pay some bills off as I was getting seriously in debt. I put in my 1099-r forms and am now seeing my estimated refund drop from around 1k to 540$. I didn't take it out as a hardship withdrawal either. Can I put in the "other reasons" box the amount I took out?</P> Wed, 05 Jun 2019 05:46:43 GMT christine_gibson 2019-06-05T05:46:43Z What are the valid "other" reasons I can claim early withdrawal on my 401k? https://ttlc.intuit.com/community/retirement/discussion/what-are-the-valid-other-reasons-i-can-claim-early-withdrawal-on-my-401k/01/555245#M51928 <P>I took out my 401k as an early withdrawal. Was taxed on it at the time. I used it money to pay some bills off as I was getting seriously in debt. I put in my 1099-r forms and am now seeing my estimated refund drop from around 1k to 540$. I didn't take it out as a hardship withdrawal either. Can I put in the "other reasons" box the amount I took out?</P> Wed, 05 Jun 2019 05:46:43 GMT https://ttlc.intuit.com/community/retirement/discussion/what-are-the-valid-other-reasons-i-can-claim-early-withdrawal-on-my-401k/01/555245#M51928 christine_gibson 2019-06-05T05:46:43Z Apart from the hardship withdrawal, the other would be an... https://ttlc.intuit.com/community/retirement/discussion/apart-from-the-hardship-withdrawal-the-other-would-be-an/01/555253#M51929 <P>Apart from the hardship withdrawal, the other would be any of the ones listed in the TurboTax FAQ below.&nbsp; Please select 'see entire answer' to read the content.</P><P> <A href="https://ttlc.intuit.com/replies/5881082" target="_blank">https://ttlc.intuit.com/replies/5881082</A> <BR /> </P> Wed, 05 Jun 2019 05:46:44 GMT https://ttlc.intuit.com/community/retirement/discussion/apart-from-the-hardship-withdrawal-the-other-would-be-an/01/555253#M51929 MelaineC 2019-06-05T05:46:44Z To be clear, general "hardship" and using the money to pa... https://ttlc.intuit.com/community/retirement/discussion/to-be-clear-general-hardship-and-using-the-money-to-pa/01/555258#M51930 To be clear, general "hardship" and using the money to pay bills are not an exceptions to the early-distribution penalty.<BR /><BR />See the instructions for Form 5329 for the permissible Other reasons that qualify as an exception to the early-distribution penalty:&nbsp;&nbsp;&lt;a rel="nofollow" target="_blank" href="<A href="https://www.irs.gov/instructions/i5329#idm140449226340160&quot;&gt;https://www.irs.gov/instructions/i5329#idm140449226340160&lt;/a" target="_blank">https://www.irs.gov/instructions/i5329#idm140449226340160"&gt;https://www.irs.gov/instructions/i5329#idm140449226340160&lt;/a</A>&gt; Wed, 05 Jun 2019 05:46:46 GMT https://ttlc.intuit.com/community/retirement/discussion/to-be-clear-general-hardship-and-using-the-money-to-pa/01/555258#M51930 dmertz 2019-06-05T05:46:46Z
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topic What are the valid &quot;other&quot; reasons I can claim early withdrawal on my 401k? in Retirement tax questions
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<P>I took out my 401k as an early withdrawal. Was taxed on it at the time. I used it money to pay some bills off as I was getting seriously in debt. I put in my 1099-r forms and am now seeing my estimated refund drop from around 1k to 540$. I didn't take it out as a hardship withdrawal either. Can I put in the "other reasons" box the amount I took out?</P>
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What are the valid "other" reasons I can claim early withdrawal on my 401k?
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<P>I took out my 401k as an early withdrawal. Was taxed on it at the time. I used it money to pay some bills off as I was getting seriously in debt. I put in my 1099-r forms and am now seeing my estimated refund drop from around 1k to 540$. I didn't take it out as a hardship withdrawal either. Can I put in the "other reasons" box the amount I took out?</P>
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Apart from the hardship withdrawal, the other would be an...
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<P>Apart from the hardship withdrawal, the other would be any of the ones listed in the TurboTax FAQ below.&nbsp; Please select 'see entire answer' to read the content.</P><P> <A href="https://ttlc.intuit.com/replies/5881082" target="_blank">https://ttlc.intuit.com/replies/5881082</A> <BR /> </P>
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To be clear, general "hardship" and using the money to pa...
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https://ttlc.intuit.com/community/retirement/discussion/to-be-clear-general-hardship-and-using-the-money-to-pa/01/555258#M51930
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To be clear, general "hardship" and using the money to pay bills are not an exceptions to the early-distribution penalty.<BR /><BR />See the instructions for Form 5329 for the permissible Other reasons that qualify as an exception to the early-distribution penalty:&nbsp;&nbsp;&lt;a rel="nofollow" target="_blank" href="<A href="https://www.irs.gov/instructions/i5329#idm140449226340160&quot;&gt;https://www.irs.gov/instructions/i5329#idm140449226340160&lt;/a" target="_blank">https://www.irs.gov/instructions/i5329#idm140449226340160"&gt;https://www.irs.gov/instructions/i5329#idm140449226340160&lt;/a</A>&gt;
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