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Retirement tax questions
Your distribution taken during 2019 is not exempt from any of the early withdrawal penalties for COVID. If you were under the age of 59 1/2 when you took the money out in 2019 you are subject to the 10% early withdrawal penalty and ordinary income tax. The CARES act pertains to a withdrawal in 2020.
**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.**
‎July 4, 2020
5:05 PM