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gruntchuck01
February 5, 2025
Question

What are "Distributions for eligible emergency expenses"? What expenses are eligible?

  • February 5, 2025
  • 1 reply
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On a 1099-R, what are eligible emergency expenses?

    1 reply

    KrisD15
    KrisD15
    February 5, 2025

    According to the IRS:

    "An emergency personal expense distribution is a distribution made from an applicable eligible retirement plan to an individual for purposes of meeting unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses. An emergency personal expense distribution is includible in gross income, but it is not subject to the 10 percent additional tax under section 72(t)(1)."

     

    HERE is a link with more information 

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