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I took money out of my 401(K) to purchase a new home. I received my 1099-R. Do I have to attach my HUD in order to prove I purchased the home within the time frame necessary to avoid early withdrawal 10% penalty?


The BIDaWIZ Team's Answer:

You would complete Form 5329 to claim the early withdrawal penalty exception should you qualify. The 1099-R form you received contains an incorrect distribution code? We're assuming that is the case. This is referenced in IRC Section 72(t).

References: IRC Section 72(t)
State: Texas

The BIDaWIZ Team



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