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March 15, 2020
Question

I am being told my have a penalty for taking an early withdraw or making an excess contribution to an IRA or other tax favored account

  • March 15, 2020
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1 reply

ColeenD3
March 15, 2020

Do you know which? You may have done both.

 

If you received a distribution before reaching age 59 1/2, you will have a penalty for early withdrawal, unless an exception applies.

 

Please see this LINK for excess contribitions.