Skip to main content
February 22, 2023
Question

What is exclusion for over age 59 ½?

  • February 22, 2023
  • 1 reply
  • 0 views
How do you know if you are eligible for exclusion for over age 59 ½?

1 reply

Employee
February 22, 2023

If you are 59 1/2 or older you do not pay an early withdrawal  10% penalty for taking money out of a retirement account.   You will still pay ordinary income tax on the money you take out.   Is that what you are asking about?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**