Is there a credit or deduction if I had to take out my 401K early to pay for court/lawyer fees for custody of my child?

jjsvadlenka · ‎June 1, 2019

xmasbaby0 · ‎June 1, 2019

No. Sorry. If you are under 59 1/2 you are subject to the 10% early withdrawal penalty as well as ordinary income tax.

And also-sorry -- but your legal fees are not deductible.

Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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xmasbaby0 · ‎June 1, 2019

No. Sorry. If you are under 59 1/2 you are subject to the 10% early withdrawal penalty as well as ordinary income tax.

And also-sorry -- but your legal fees are not deductible.

Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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Is there a credit or deduction if I had to take out my 401K early to pay for court/lawyer fees for custody of my child?