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-   -   401k penalty (https://www.askmehelpdesk.com/showthread.php?t=356652)

  • May 22, 2009, 05:29 AM
    konorato
    401k penalty
    We took a withdrawal on our 401k this year and was assessed a penalty. Is the penalty we pay allowed to be taken as "other taxes" when itemizing your deductions.
  • May 22, 2009, 08:00 AM
    ebaines
    Quote:
    Originally Posted by konorato View Post
    Is the penalty we pay allowed to be taken as "other taxes" when itemizing your deductions.
    No. Federal income and excise taxes are not deductible.

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