401k early withdrawal to pay for medical expenses. I can waive the penalty for excess of 7.5% agi. Does my AGI include the 401k funds? does it matter if i used fsa too?

Forum|Forum|1 year ago
March 8, 2025
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Ex. w2 $50,000 401K withdrawl $10,000 Total Medical 10k FSA Towards Medical 2k. How much can I put for amount of 401k withdraw for medical expenses?

SharonD007

Your 401(k) distribution is included in your AGI. You can put $8,000 in the amount of your early withdrawal since you paid $2,000 with your FSA. TurboTax will figure out how much can be excluded from the penalty.

Refer to the TurboTax article What are the exceptions to the penalty for an early withdrawal from my 401(k)? for more information.

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401k early withdrawal to pay for medical expenses. I can waive the penalty for excess of 7.5% agi. Does my AGI include the 401k funds? does it matter if i used fsa too?

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