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Retirement tax questions
No. There is no deduction for taking money out of a retirement account. Depending on what kind of retirement account it is, you might have an exception to the early withdrawal penalty. But the rest of it is taxable income---not a deduction.
EXCEPTIONS TO EARLY WITHDRAWAL PENALTY
**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.**
‎February 6, 2024
2:59 PM