For an early retirement withdraw, should i pick eligible emergency expense OR separation from service after age 55, if both apply? Does it matter which one I pick?
01484
1 Replies
DoninGA
Level 15
Feb 26, 2025 1:24:15 PM
If you separated from your employer at age 55 or older, then you would not be subject to the 10% early distribution penalty. Box 7 of the Form 1099-R would have a code of 2—Early distribution, exception applies (under age 59½).