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nurseannie83
New Member

I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure this is ok. It was over 7.5% of my AGI for 2018. Or is it AGI 2019?

 
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LindaB1993
Expert Alumni

I cashed out my Teachers Retirement Fund in 2019 to pay of medical debt. I want to be sure this is ok. It was over 7.5% of my AGI for 2018. Or is it AGI 2019?

The AGI for 2019 is applicable to the distribution.  You should qualify for the waiver of 10% early withdrawal penalty based on the excess over the 7.5% AGI for 2019.  

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