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DA2025
April 14, 2025
Question

I took out my money from my retirement fund because I lost my job. Is there tax relief from withdrawing these funds?

  • April 14, 2025
  • 1 reply
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    V
    Vanessa A
    April 14, 2025

    For the most part no.  There are exceptions to the penalty for separation of service if you are over 55 and for a $1,000 emergency funds withdraw.  Anything other than that would end up with the 10% early withdraw penalty. 

    Retirement topics - Exceptions to tax on early distributions

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