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jbweid
New Member

I withdrew money from a money market and through turbo tax was assessed a early withdrawal penalty, should I have been penalized?

 
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2 Replies
MinhT1
Employee Tax Expert

I withdrew money from a money market and through turbo tax was assessed a early withdrawal penalty, should I have been penalized?

Please clarify. Did you receive a form 1099-R (or any other tax form) for this withdrawal?

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jbweid
New Member

I withdrew money from a money market and through turbo tax was assessed a early withdrawal penalty, should I have been penalized?

I only received a 1099-R. I looked at it again and I was able to put my age and was over the 591/2 so I was not assessed a penalty but I didn't think  anyone at any age should be penalized for withdrawal of a money market.

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