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Taxpayer took an early distribution from a 401k to repair his hurricane damaged home in Mexico. He works

peggygallo
Level 2
Taxpayer took an early distribution from a 401k to repair his hurricane damaged home in Mexico.  He currently works
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4 Comments 4
jeffmcpa2010
Level 11

Is there more to your question?

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peggygallo
Level 2

Somehow the last part of my question went missing!  So here is the queston

Taxpayer took early distrib. from 401k to repair his hurricane damaged home in Mexico.  He currently works & lives in the US.  Can he take the disaster exemption for this distribution?

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jeffmcpa2010
Level 11

I believe that it has to be in a US Federally Declared Disaster Area, and I am thinking that the US did not declare a federal disaster area in another country? (My comment is without research, just conjecture)

qbteachmt
Level 15

"Somehow the last part of my question went missing!"

You limit Title to, well, Title. Then, you put content in the input panel. It won't cut you off.

The 401(k) accepted his claim of financial hardship. That's all you get.

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