Is getting money from 401k for roof and hvac tax deductible?

Forum|Forum|1 year ago
February 1, 2025
1 reply
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I got my 401k after leaving my job. Is getting a new hvac unit and metal roof a emergency reason for getting funds?

AnnetteB6

No, using the money from your 401k after leaving your job to pay for a new HVAC and metal roof is not one of the exceptions to the early distribution penalty.

If the HVAC and/or the roof replacement was considered a personal emergency expense, then up to $1000 may qualify for the exception.

Take a look at the following TurboTax help article and article from the IRS for more information:

What are the exceptions to the penalty for an early withdrawal from my 401(k)?

Retirement topics - Exceptions to tax on early distributions

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Is getting money from 401k for roof and hvac tax deductible?

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