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New Member
posted Feb 2, 2025 11:37:22 AM

If I close my TSA account early I know that I will incur a fed income tax penalty of 10%. I’m in Georgia so what other early withdrawal penalties can I expect?

I’m not 59 1/2 yet; state tax % penalty?

0 2 1042
2 Replies
Expert Alumni
Feb 2, 2025 12:45:56 PM

There is no additional state penalty for early withdrawal of your TSA account in Georgia.  You would only be subject to the IRS penalty for early withdrawal (unless an exception applies of course).

New Member
Feb 2, 2025 3:41:28 PM

Thanks so much👍🏼