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Level 2
March 27, 2020
Question

2019 401k

  • March 27, 2020
  • 1 reply
  • 14 views

Hello - My wife withdrew her 401k in 2019 and we are set to pay the 10% penalty in our State taxes in a few weeks when they are due (already filed). I'm now reading that the Government is allowing people to withdraw their 401k early without the 10% penalty due to the Coronavirus relief efforts.

 

Is there a way to amend my taxes or take advantage of this new rule?

 

Thanks,

Brian

1 reply

Critter
Level 15
March 27, 2020

At this time there is no provision for amending prior year returns to get the penalty back ... it is only for distributions in 2020.