I do not have a child support order. My child support amount is based on the State of Minnesota Child Support Guidelines Worksheet. My ex-wife and I have recalculated the amount ourselves each year based on both tax returns and there has never been issue. Two years ago I also had a 401K withdrawl to use as a downpaymnet on my house and she never made it an issue and not she is. My goal is to provide a backup source that confirms that the one time 401K withdrawl is not to be considered in the base calculation for child support. Please let me know if you have additional questions.
Thank you very much for your response Nelson.Minnesota Statute 518A.29 states that gross income includes "any form of periodic payment to an individual". It further states that when computing gross income "no deductions shall be allowed for contributions to pensions, 401-K, IRA, or other retirement benefits."In plain English this means that a one-time withdrawal from 401(k) is not considered gross income for purposes of child support - It is not a periodic payment. If you had retired and were taking periodic withdrawals from the 401(k), it would be considered as part of your gross income as the withdrawal would then be considered a periodic payment.As an aside, this also means that when you are making contributions to your 401(k), you must calculate child support based upon your income prior to the deduction for the 401(k).You may read the statute in full at this link:https://www.revisor.leg.state.mn.us/statutes/?id=518A.29I would be glad to respond to any follow-up questions that you may have.
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