cnauerd
New Member

Retirement tax questions

Thank you for the response!  I had a followup question...my Fidelity plan lists IRS code M which is "Qualified plan loan offset".  Are there any cases where my payoff of my loan with a withdrawal from the same account would qualify as an offset and therefore not trigger the 10% penalty?  I was laid off in 2023 and did this transaction in 2024.