401K distribution

[jby727]

I took an early distribution from my Roth 401K to pay educational expenses for my two kids in college. I've had the Roth for over 5 years and the distribution was less than my contributions (nothing taken from earmings). What's taxable and do I have to pay a penalty? Nobody I talked to seems to know the answer? Can anybody out there give a straight answer that knows the tax code? ThanksWhat is the name of your state (only U.S. law)?

[LdiJ]

Originally Posted by jby727

I took an early distribution from my Roth 401K to pay educational expenses for my two kids in college. I've had the Roth for over 5 years and the distribution was less than my contributions (nothing taken from earmings). What's taxable and do I have to pay a penalty? Nobody I talked to seems to know the answer? Can anybody out there give a straight answer that knows the tax code? ThanksWhat is the name of your state (only U.S. law)?

There should be no penalty or tax associated with the distribution, because you took out contributions that you already paid tax on.

[davew128]

I for one would like to know how you've had a Roth 401(k) for five years......seeing as they've only been in existence in theory since 2006.