Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
bflorenc
New Member

I am disabled. Took $ from a Roth IRA. I'm Not 59 1/2 yet. Should I not have to pay a penalty?

 
1 Best answer

Accepted Solutions
KatrinaB
Intuit Alumni

I am disabled. Took $ from a Roth IRA. I'm Not 59 1/2 yet. Should I not have to pay a penalty?

Being totally and permanently disabled is one of the exceptions to the 10% penalty. Turbotax will ask you questions during the interview so that you can claim the exception.

Please view the IRS link below for more information.

https://www.irs.gov/taxtopics/tc557

View solution in original post

1 Reply
KatrinaB
Intuit Alumni

I am disabled. Took $ from a Roth IRA. I'm Not 59 1/2 yet. Should I not have to pay a penalty?

Being totally and permanently disabled is one of the exceptions to the 10% penalty. Turbotax will ask you questions during the interview so that you can claim the exception.

Please view the IRS link below for more information.

https://www.irs.gov/taxtopics/tc557

Dynamic AdsDynamic Ads
Privacy Settings
v