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Retirement tax questions
The CARES act only exempts the additional 10% early distribution penalty if you are under age 59 1/2. It does not change the normal tax on the distribution which is ordinary income taxed at your margional tax rate.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎October 25, 2020
3:53 PM