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cmelroe
January 29, 2020
Question

If I performed an early withdrawal on my 401k and a month later had medical issues that exceed 7.5% AGI, can I claim those medical expenses to waive early withdrawal fee?

  • January 29, 2020
  • 1 reply
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1 reply

LindaB1993
LindaB1993
January 29, 2020

If the money withdrawn from your 401(k) was used to pay for medical expenses in excess of the 7.5% AGI, the early withdrawal 10% penalty may be waived by filing Form 5329.

 

Please review a comprehensive list on the IRS website by clicking on this link:

Early withdrawal penalty exceptions

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