turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

does a $6000 IRA distribution incur a penalty

this was a normal distribution but the program says it may cause a penalty ?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MinhT1
Employee Tax Expert

does a $6000 IRA distribution incur a penalty

An IRA distribution incurs a tax penalty of 10% if you are aged less than 59 1/2at the time of the distribution.

 

There are a few exceptions to the penalty in specific cases described in this TurboTax article.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question