Exception to penalty for early distribution
I understand the 10% penalty for early distribution from a retirement plan is waived if a person’s unreimbursed medical expenses exceed 7.5% of AGI. The definition of AGI includes the newly withdrawn retirement money, correct?
Permalink Submitted by Alan Spross on Thu, 2009-08-06 20:51
Yes, that is correct.
Permalink Submitted by Jean Ann Blanke on Fri, 2009-08-07 16:32
Thank you for your help.