TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Question

Does anyone know how to get an exemption on paying tax on $3551 that i withdrew from a 401(k) in 19 to attend college. I do not see college offered on this site.

Forum|Forum|6 years ago
March 26, 2020
1 reply
0 views

No text available

TurboTax Premier Online

Employee

There is no way to get an exemption from paying tax, in your situation. Unfortunately, there's more bad news. If you are under age 59-1/2, the withdrawal is also subject to the 10% early distribution penalty.

There is an education exception to the penalty, if you withdraw from an IRA (you still have to pay tax). But, a 401k is not eligible for that exception.