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Retirement tax questions
No, it does not qualify as a disaster. A disaster is something like a major flood or the wildfires. Losing your job allows you to take a withdraw and allow the exemption if you are over 55.
There is a $1,000 emergency personal expense allowance which is allowed to be taken one time per year. This start December 1, 2024. You will be able to enter that in a screen several screens after it asks about the disaster distribution.
Exemptions to tax on early distributions
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‎February 18, 2025
9:08 AM