latina1108
Junior Member
What is the name of your state? pennsylvania
my brother-in-law took a lump distribution from his 401k - however, he did not mention it was for a down payment in his new home. can he still use this as a tax exemption, he did not use all of it for his down payment so how much is permissible?. also can he deduct monies used to improve the home?
my brother-in-law took a lump distribution from his 401k - however, he did not mention it was for a down payment in his new home. can he still use this as a tax exemption, he did not use all of it for his down payment so how much is permissible?. also can he deduct monies used to improve the home?