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Retirement tax questions
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If you take a distribution from a retirement plan before age 59 1/2, you must pay the 10% additional tax for the IRA amounts you withdrew. However, if you qualify for an exception on Form 5329, you do not need to pay.
For more information, click here: https://www.irs.gov/pub/irs-pdf/i5329.pdf
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‎February 16, 2021
3:12 PM