Question

I worked 30 yrs and my age is 57 so I was Eligible for the 10%?

Forum|Forum|6 years ago
October 21, 2019
2 replies
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TurboTax Deluxe Online

Employee

10% for what? Did you take a distribution? There is a 10% Early Withdrawal Penalty if you are under 59 1/2 unless you stopped working there. Then it's 55.

C

cee11_2Author

so how do I get the Credit for the 55 yrs of age and 30 yrs retirement?

M

mesquitebean

Employee

@ cee wrote:

so how do I get the Credit for the 55 yrs of age and 30 yrs retirement?

We're still trying to figure out what you are asking about. So please clarify some things.

First, are you asking about a USA tax return or a Canadian return? This is the USA TurboTax community forum.

If USA, are you asking about a Federal tax credit or a state tax credit? If the latter, then what state?

If it's a USA return, we can ask someone familiar with retirement plans to help you in this community forum during the day, or we can tell you how to phone TurboTax Support so they can talk to you in realtime to figure out what you are asking about.

A

Anonymous

is this what your inquiring about? no 10% early withdrawal penalty for

Qualified retirement plan distributions (doesn’t apply to IRAs) you receive after separation from service when
the separation from service occurs in or after the year you reach age 55 (age 50 for qualified public safety
employees).