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Retirement tax questions
Line 30 indicates that you took money from a CD. This is deductible. If you had a penalty from an early distribution, that is a tax, not a deduction. Whereas in the first instance the bank charged you a penalty which is deductible, in the second it is the IRS that is charging the penalty. It is not deductible.
‎June 4, 2019
12:54 PM