Hardship withdrawal from 401k for down pmt on primary/first time buyer and will I pay 10% penalty?
We bought a home and took our down pmt out of our 401k for the 20% down. We were told because we applied and got approved for a hardship withdrawal since we were using the money for our primary residence and we were first time home buyers that we wouldn’t have to pay the 10% penalty. Now we are doing our taxes and it looks like we are gonna have to pay the penalty after all. Is there a special form we need to avoid this penalty or was this misinformation?
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