If we have to pay penalty for early IRA withdrawal, how can I get it back if she is considered disabled later this year?

My wife had to retire for medical reasons. We cashed out her IRA, had 20% held out for Fed. taxes but am getting hit with the 10% early penalty. She is in the process of filing for Social Security disability. We don't have enough medical expenses to file above the 10% of our AGI. Is there any other options to eliminate the early withdrawal tax? If we have to pay, can we get it back next year if we have a doctors letter of disability?

796

1 Best answer

Expert Alumni

Jun 1, 2019 1:36:24 AM

Unfortunately, your spouse cannot get back the early withdrawal penalty if she qualifies for disability after the withdrawal.

Expert Alumni

Jun 1, 2019 1:36:24 AM

Unfortunately, your spouse cannot get back the early withdrawal penalty if she qualifies for disability after the withdrawal.

Why sign in to the Community?

If we have to pay penalty for early IRA withdrawal, how can I get it back if she is considered disabled later this year?