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Retirement tax questions
For a hardship withdrawal the first $1,000 is exempt from the 10% early withdrawal penalty. All of the amount over the first $1,000 is subject to the 10% early withdrawal penalty if you were under age 59 1/2 at the time of the withdrawal or you were under the age of 55 and have separated from the company that provided the 401(k).
March 17, 2025
5:54 AM