Lost job used money withdrawn to survive until new employment

dennid949 · ‎March 27, 2020

xmasbaby0 · ‎March 27, 2020

What is your question?

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GiseleD · ‎March 27, 2020

We are unable to see your account or return here, as this is a public forum. It sounds like you are asking about the 10% penalty for an early withdrawal from a retirement plan. Is that correct? Please provide some more details so we can better assist.

@dennid949

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dennid949 · ‎March 27, 2020

My Wife lost job cashed out 401k to live off until she got new job. She paid taxes.

GiseleD · ‎March 27, 2020

Even if she had taxes withheld, she will still be responsible for the 10% penalty on early distributions unless one of these exceptions applies.

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Lost job used money withdrawn to survive until new employment