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February 9, 2022
Question

I closed my 403b account when i turned 60 after the total loss of my house due to fire do i have to pay tax on this

  • February 9, 2022
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1 reply

February 9, 2022

Distributions from your 403(b) account are taxable, since you did not pay tax on the income that was used to fund the account. There is no exemption from tax because you sustained a hardship.

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