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brycekaowili18
February 1, 2025
Question

I was facing eviction and was advised this amount could be used for emergency rent. 1099-R has a section for Distributions for eligible emergency expenses. Is this it?

  • February 1, 2025
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      MindyB
      February 1, 2025

      Yes, this would be considered an emergency. Be aware that an emergency will allow you to make a withdrawal, still subject to tax, but without the 10% early withdrawal penalty.  You can take one financial withdrawal emergency per year, not to exceed $1,000.

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