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I withdrew 401k early due to becoming homeless. Any relief in tax withheld

Forum|Forum|7 years ago
June 2, 2019
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Best answer by MinhT1

Unfortunately, this is not an exception to the early withdrawal penalty of 10% if you are aged 59 1/2 or less. Your withdrawal is taxable and is subject to the early withdrawal penalty.

E

ericlawrence96Author

I'm unemployed and don't have income or a place to live that is safe. I am a recovered alcoholic trying to get on track. Need money to do that

M

MinhT1Answer

Unfortunately, this is not an exception to the early withdrawal penalty of 10% if you are aged 59 1/2 or less. Your withdrawal is taxable and is subject to the early withdrawal penalty.

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