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Roth IRA early distribution not showing as taxable
I took an early tax distribution before I was 59.5 years old from my Roth IRA, which should incur a 10% penalty. Initially turbotax calculated the 10% penalty, but when I input my previous contributions the Roth IRA the 10% penalty disappeared. Why would making previous contributions to the Roth IRA cancel the 10 penalty. It seems too good to be true.
March 30, 2024
10:45 AM