in reply to dmertz:
That would be the situation: Separate from service in January of 2025 at the age of 54 years old. In November of the same year (2025) I will turn 55 years and start taking withdrawals.
Your post/reply is how I understood it to be. Unfortunately, two Tax Experts state otherwise in earlier replies to my original post.
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-exceptions-to-tax-o...
The key word is "during". TurboTax even asks you when you are doing taxes "Separation From Service the Year During or After Age 55". Not Separation From Service on or After the Age 55.
I don't mind paying my taxes. I just don't want to pay more than I am supposed to. I might have to schedule some time with a CPA/Tax Attorney or try to reach out to the IRS.
Thank you for the reply.
