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M
michhulett
February 7, 2020
Question

I was I'll for 2 months.i had to withdraw from my retirement for income?

  • February 7, 2020
  • 1 reply
  • 0 views
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1 reply

Hal_Al
Hal_Al
Employee
February 7, 2020

There is never an exception to the income tax on a withdrawal (distribution) from a retirement plan, including IRA and 401k.

 

General hardship, including short term disability is not an exception to the 10% early withdrawal penalty. Long term disability is.  Paying medical expenses, exceeding 10% of AGI,  is a penalty exception. 

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