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What's the penalty on a 401(k) hardship withdrawal?

SOLVEDby TurboTax412Updated 3 weeks ago

If you took the hardship withdrawal before you turned 59 1/2, you'll pay a 10% early withdrawal penalty, with a few exceptions. Your distribution will also be included in your gross income.

Once you enter the distribution information from your 1099-R form, we'll help you check for any exceptions that could reduce the tax.

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